In using the Website, you agree that the Company shall not be liable for any damages whatsoever (including indirect, incidental, special, punitive or consequential damages and loss of profits, opportunities or information) arising from (a) your use of or reliance on information contained on the Website; (b) any inaccuracy or omission in such information or failure to keep the information current; (c) use of any third party web sites linked or referred to in the Website; (d) any delays, inaccuracies or errors in, or in the transmission of, any stock price quotes or historical price data; (e) any Internet software used in connection with the Website or computer viruses or other destructive programs encountered as a result of using the Website; and (f) any other matter connected with the Website; even if the Company is made aware of the possibility of such claims, damages or losses.

Although care has been taken in preparing and maintaining the information and materials contained on the Website, they are provided on an "as is" basis, without warranty of any kind, either express or implied, with respect to the accuracy, timeliness or completeness of the information. Unless otherwise indicated, all information posted on the Website is current only as of the date of the document that contains the information, if indicated, or the date on which the document is posted, whichever is earlier. The Company may at any time make changes to the information at the Website without prior notice. You should always ensure that you are referring to the most current information available on the Website.

Third–party reports

The Website may contain reports or other information prepared by third parties (collectively, “Third–Party Reports”). The Third–Party Reports are provided for the convenience of the users of the Website and the Company does not endorse and is not responsible or liable for the content, nature or reliability of any of the Third–Party Reports. The Company takes no responsibility for reviewing, updating, supplementing or correcting any information in the Third–Party Reports. Any and all views expressed in Third–Party Reports are the views of the third party and not necessarily the views of the Company.

Third–party websites

In the Website, the Company has provided links and references to several other websites. The Company has no control over information at sites hyperlinked or referred to in the Website. These links and references are being provided for the convenience of the users of the Website and the Company does not endorse and is not responsible or liable for the content, nature or reliability of any linked or referenced website or any link contained in a linked or referenced website. The Company takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked or referenced website and makes no representation or warranties regarding such information. Please be aware that in linking or going to these outside websites, you are leaving the Company’s Website and that the Company is not responsible for the content of any other website.

Intellectual property

The Website and all information on it (the “Materials”), including but not limited to all icons, images, photographs, software, trademarks, marks, and text in graphical, video or audio form are the property of the Company and are protected by applicable copyright, trademark and other laws as well as by international copyright and trademark laws and treaties. The Materials are owned by the Company and the copyright therein is held by the Company unless material is provided by another source.

The Website has been created for lawful purposes. Your use of the Website does not transfer to you any ownership of the Website or the Materials. You may access and browse the Website and you may print or download pages of the Website for your personal use. No information contained on the Website is to be considered an offer to sell or a solicitation to buy any securities in any jurisdiction. Unless expressly stated to the contrary, information, documents and materials filed or disclosed in accordance with the requirements of stock exchanges or other jurisdictions applicable to the Company are not intended in any way to be qualified, amended, modified or supplemented by information available in, through or on this Website. The information, documents and materials available on this Website are provided for information purposes only. Users are referred to statutory filings and disclosure of the Company on SEDAR (www.sedar.com) in Canada.

You may not, nor may you allow others to, directly or indirectly, remove, modify, copy, display, transfer or sell any Materials from the Website for non–personal use without the prior written consent of the Company, disrupt or interfere in any other person’s use or enjoyment of the Website or use the Website in a manner that could damage, disable, impair or interfere with the security of the Website or any services, servers or networks associated with the Website. Any conduct by the user of this Website that is contrary to applicable law or regulation is prohibited. Prohibited activities include, but are not limited to, uploading or disseminating material which violates copyright or intellectual property rights (the user assumes all risk regarding whether material is in the public domain), circumventing or attempting to impair user authentication or the security of this Website, related databases, host servers or networks, introducing malicious programs, such as viruses, worms, Trojan horses or email bombs, into the Website or servers, fraudulent activities, including impersonating any person or entity or forging anyone’s digital or manual signature and posting or transmitting to or from the Company any unlawful, threatening, libellous, defamatory, obscene, pornographic or other materials that violate any law. Users are responsible for any misuse of the Website that originates from their respective IP addresses.

Forward–looking information

The Website contains “forward–looking information” which may include, but is not limited to, statements with respect to the future financial and operating performance of the Company, its subsidiaries and affiliated companies, and its mineral projects, the future price of platinum or other PGMs, the estimation of mineral resources, the realization of mineral resource estimates, costs of production, capital and exploration expenditures, costs and timing of the development of new deposits, costs and timing of the development of new mines, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations and exploration operations, timing and receipt of approvals, licences, and conversions under South African mineral legislation, environmental risks, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Often, but not always, forward–looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward–looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries and/or its affiliated companies to be materially different from any future results, performance or achievements expressed or implied by the forward–looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations and studies; fluctuations in the value of United States dollars relative to the Canadian dollar or South African rand; changes in project parameters as plans continue to be refined; future prices of platinum or other PGMs; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability, insurrection or war; the effects of HIV/AIDS on labour force availability and turnover; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, the availability of sufficient electricity or any electricity at all, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Prospectus 2006 (PDF - 2.53MB) / Short Form Prospectus 2010 (PDF - 129KB) / Annual Information Form 2011 (PDF - 1.54MB) and other public documents of the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward–looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward–looking statements contained in the Website are made as of the date indicated and the Company disclaims any obligation to update any forward–looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward–looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward–looking statements due to the inherent uncertainty therein.

Cautionary Note to U.S. Investors

This website uses certain terms which are recognized and required by Canadian securities law regulations, such as "Measured Resources," "Indicated Resources," and "Inferred Resources," that the United States Securities and Exchange Commission (“SEC”) guidelines prohibit. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an “Inferred Mineral Resource” will ever be upgraded to a higher category. In contrast, the SEC only permits mining companies, in their filing with the SEC, to disclose those mineral deposits that a company can economically and legally extract or produce.

As such, United States investors are cautioned not to assume that all or any part of “Measured” or “Indicated Mineral Resources” will ever be converted into “Mineral Reserves”. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

Stock quotes

All quotes are delayed unless otherwise stated. All stock quotes and historical stock price data are provided by third–party service providers and are provided for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the securities of the Company, we strongly advise you to seek independent professional advice before making any investment decision.

The Company makes no representation or warranty regarding the accuracy or completeness of any such stock price quotes or historical stock price data and has not taken any steps to verify, the adequacy, accuracy or completeness of the information provided herein and, under no circumstances, will be liable for any inaccuracies or omissions in any such information or data, any delays or errors in the transmission thereof, or any loss or direct, indirect, incidental, special or consequential damages caused by reliance on this information or the risks arising from the stock market.

No solicitation/offer to sell

This website shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the common shares in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon the information on the Website and no representation or warranty is made by the Company to that effect. The information on the Website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to the Company and should not be used for the purpose of making investment decisions concerning the Company’s securities.

The common shares of the Company have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.

Applicable laws

The Website is governed by and construed in accordance with the laws of South Africa applicable therein. You are responsible for informing yourself as to the laws applicable to this Website and any use thereof and for complying with such laws. The Company makes no representation that materials on the Website are appropriate for use in the location of any user of the Website and the Company does not grant access to them from territories where their content is expressly prohibited. Those who choose to access this Website from other locations do so at their own risk and are responsible for compliance with applicable local laws. You may not use any materials in violation of any applicable export or other laws and regulations.


The failure of the Company to enforce any term of the Disclaimer for whatever reason shall not be construed as a waiver of any right to do so at any time. You agree that, if any portion of the Disclaimer is held invalid or unenforceable, that portion will be construed consistent with applicable law as nearly as possible and the remaining portions will remain in full force and effect.