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05/04/2012 : 14:13:01
VIL - Village Main Reef Limited - Village production performance for March 2012
VIL
Posted Thu, 05 Apr 2012

VIL VIL VIL - Village Main Reef Limited - Village production performance for March 2012 Quarter Village Main Reef Limited (formerly known as Village Main Reef Gold Mining Company (1934) Limited) (Registration number 1934/0057034/06) Share Code: VIL ISIN: ZAE000154761 ("Village") VILLAGE PRODUCTION PERFORMANCE FOR MARCH 2012 QUARTER Village today announces that a total of 38 508 ounces of gold and 909 tons of antimony were produced during the March 2012 quarter. Gold production for the quarter was 5% or 65kg (2 021 oz) less than the forecasted gold production for the quarter as detailed in the SENS announcement released on 16 February 2012 and 14% or 197kg (6 118 oz) less than the production achieved during the December 2011 quarter . Gold production at Tau Lekoa yielded a 1% or 5kg (184oz) improvement than what was forecast largely due to increased production tons from underground. Gold production at Buffelsfontein was 18% or 63kg (2 076oz) lower than forecast. Production volumes were impacted from hoisting problems at its high grade number 2 shaft and certain production panels were also stopped at 7 shaft, due to a fall in head grade below the pay limit. This affected the mining mix and overall gold yield at Buffelsfontein. Gold production at Cons Murch was 6% or 4kg (130oz) lower than forecast due to lower than expected plant recoveries. Antimony production was negatively affected by lower volumes from the higher grade antimony shafts, due to a winder breakdown and some mine wide safety stoppages experienced mid-way through the quarter. The table below provides more information of the production achieved at each of the Village mines during the March 2012 quarter versus the December 2011 quarter and production guidance released in February 2012. March December % Productio % quarter quarter change n change guidance Tau Lekoa - gold oz 26 934 28 773 down 6% 26 750 up 1% Buffelsfontein - gold 9 433 13 634 down 31% 11 509 down 18% oz Cons Murch - gold oz 2 141 2 219 down 4% 2 271 down 6% Cons Murch - antimony 909 837 up 9% 1 200 down 24% tons Village CEO Bernard Swanepoel commented: "At Tau Lekoa, we have started to witness the rewards of the optimization project which positively impacted production, notwithstanding the effect of the Christmas break. At Buffelsfontein and Cons Murch, additional challenges were experienced which affected our production volumes. We have taken the necessary steps and anticipate that production at these operations will return to normalized levels during the June quarter." Operational and financial details for the March 2012 quarter (FY 2012) will be provided in the March 2012 Quarterly Report, which is expected to be released on SENS towards the middle of May 2012. Contacts: Village CEO Bernard Swanepoel bernard@villagemainreef.co.za 083 303 9922 Vestor Media and Investor Relations Louise Brugman louise@vestor.co.za 011 787 3015 083 504 1186 Sponsor Java Capital Date: 05/04/2012 14:13:01 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.


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