🕐05.04.12 - 14:27 Uhr

VILLAGE ANNOUNCEMENT: VILLAGE MAIN REEF PRODUCTION PERFORMANCE FOR MARCH 2012 QUARTER



Press announcement 5 April 2012
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 quarter December quarter % change
Production guidance % change
Tau Lekoa - gold oz 26 934 28 773 ↓ 6% 26 750 ↑ 1%
Buffelsfontein - gold oz 9 433 13 634 ↓ 31% 11 509 ↓ 18%
Cons Murch - gold oz 2 141 2 219 ↓ 4% 2 271 ↓ 6%
Cons Murch - antimony tons 909 837 ↑ 9% 1 200 ↓ 24%
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 | | 083 303 9922 Vestor | Media and Investor Relations | Louise Brugman | | 011 787 3015 | 083 504 1186
Logo_sharper02 media & investor relations
louise brugman managing director Tel: +27 (0) 11 787 3015 Cell: +27 (0) 83 504 1186 skype louise.brugman Email: Web: www.vestor.co.za



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