Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Completed an Environmental Impact Assessment for the development of the Zebediela Class 1 nickel resource; no critical issues identified.

Social Achievements

• Embarked on significant public consultation processes to identify and mitigate social, community and environmental concerns; registered over 136 Interested and Affected Parties as part of the Environmental Impact Assessment; continues to engage meaningfully with impacted communities, and develop its social license to operate.

Governance Achievements

• Formally adopted the Quoted Companies Alliance Corporate Governance (“QCA Code”); complies with the QCA Code so far as it is practicable.

Climate Goals & Targets

Environmental Challenges

• Dependence on key individuals
• Receipt and maintenance of all required exploration permits and property titles
• Successful development
• Ability to secure adequate financing to meet the minimum capital required to successfully develop the Group's projects and continue as a going concern
• Commodity Prices
• Costs and capital expenditure
• Liquidity
• Project Execution
• Loss of key management personnel
• Skills Availability
• Health and Safety
• Environmental Remediation
• Political, Legal and Regulatory Development
• Community Relations
• Global pandemic

Mitigation Strategies

• Further drilling planned for 2023 will improve the confidence in the Mineral Resources and increase the grade of the mineral resources.
• A mining right application has been submitted and accepted that will consolidate the rights under the name of Lesego Platinum Uitloop (Pty) Ltd and provide exclusive access to the Company for the mineral rights for 30 years.
• The Board monitors commodity prices and potential impacts on cash flow, project development and the ability of the Group to raise necessary capital. Capital expenditure plans are aligned to prevailing and anticipated market conditions.
• Management conducts cash flow analyses and reduces capital expenditure requirements wherever possible. If necessary, project scopes are adjusted or in some cases deferred to preserve capital.
• Management monitors liquidity and exploration expenditure. The Board strives to ensure liquidity through timely corporate actions, if and when required.
• The Group will review its project portfolio on a regular basis and utilises relevant data, such as code compliant Mineral Reserve and Mineral Resource estimates, to guide development priorities. A balanced portfolio will reduce risks associated with a specific project or commodity. The Group will also make use of experienced contract and consultant personnel with relevant experience in project execution.
• The Group seeks to provide competitive salary arrangements to attract and retain the services of these personnel members.
• Management has implemented retention strategies, including competitive compensation packages, as and when required. The Group also makes use of experienced contract and consultant personnel with relevant experience in project execution.
• The Group takes the health and safety of all those who work for and with the Group very seriously. Measures are based on the principles outlined in the Prospectors and Developers of Canada’s e3 program.
• All operational models take environmental responsibilities into account. Third parties are contracted as required to identify environmental risks and mitigation measures. Environmental Impact studies are ongoing, in line with the world-class South African environmental regulations.
• The Group focuses on project development in stable, mining-friendly countries, and liaises with governments on aspects of its operations on a regular basis. The Group monitors the political landscape to keep abreast of likely changes in regulatory policies, and adjusts its asset mix accordingly.
• The Group is committed to the establishment of close working relationships with communities in the areas in which it operates. The Group consults with local stakeholders, identifying them prior to the onset of activities. The Group will work with stakeholders to define the way in which the Group’s operations will positively impact local communities. The Group engages experienced personnel to assist with local community relations.
• The Group has and will work with the DMRE in establishing extensions for required documentation.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UK adopted International Accounting Standards

Third-party Assurance: PKF Antares

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Integrated Environmental Authorisation (IEA) granted for Zebediela Nickel Project in South Africa.

Social Achievements

• Extensive consultations with local communities and stakeholders throughout the environmental assessment process.

Governance Achievements

• Compliance with South African Mineral Right regulations regarding employee share ownership and community ownership schemes for the Zebediela Nickel Project.

Climate Goals & Targets

Environmental Challenges

• Liquidity risk due to ongoing exploration and development expenditure.
• Commodity price volatility (nickel prices).
• Project execution risks.
• Personnel and skills availability.
• Health and safety risks inherent in mining.
• Potential environmental harm.
• External political, legal, and regulatory developments.
• Community relations disputes.
• Global pandemic impacting progress.

Mitigation Strategies

• Monitoring commodity prices and adjusting capital expenditure plans.
• Targeting high-grade, low-cost projects.
• Regular review of project portfolio and development priorities.
• Use of experienced contract and consultant personnel.
• Competitive salary arrangements and retention strategies.
• High safety management standards based on the principles outlined in the Prospectors and Developers of Canada’s e3 program.
• Environmental Impact studies and remediation plans.
• Focus on project development in stable, mining-friendly countries.
• Regular liaison with governments.
• Close working relationships with local communities and stakeholder consultation.
• Working with DMRE to establish extensions for required documentation.

Supply Chain Management

Climate-Related Risks & Opportunities