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Key features for the year

F2009 has seen the culmination of a number of our strategic initiatives, signalled by various company-changing developments

At the corporate level	Growth strategy takes shape	Respectable financial performance
Northam takes ownership of 7.5% stake in Pandora joint venture Booysendal transaction bedded down Empowerment credentials firmly established Northam takes ownership of 7.5% stake in Pandora joint venture	Resource estimate more than doubles to 130Moz Resource estimate more than doubles to 130Moz Booysendal feasibility study on track for greenfields expansion Progress in diversifying income stream	Sales volumes 20.7% higher at 333 159oz Sales volumes 20.7% higher at 10 362kg (333 159oz) Slump of 31.4% in rand basket price to R280 609/kg Headline earnings 71% lower Reduced but sustained dividend payment Operating margin at 27.5%

* as at June 2009