Withdrawal of Cautionary Announcement

Shareholders are referred to the cautionary announcements dated 6 August and 16 September 2003 and are advised that negotiations regarding the possible acquisition of a substantial PGE resource on the Eastern Limb of the Bushveld Complex have been terminated.

Shareholders are accordingly advised that they no longer need exercise caution when dealing in the company’s shares.

The company is continuing actively to pursue other opportunities.

20 October 2003