As part of the Feasibility Study undertaken on the Panton Project, the Company in conjunction with Lonmin Plc, developed a new metallurgical process for the recovery of PGM + Au.  

This new "Panton Process" consists of two distinct parts, a calcine-leach process in which a low grade flotation concentrate is subjected to low temperature calcination followed by cyanide leaching at elevated temperatures to dissolve the PGM's, gold and base metals; and a Metals Recovery process which recovers the dissolved metals from the leach solution by precipitation and which may then be further upgraded to a separate high grade PGM concentrate and base metal concentrate. 

The Company believes that the "Panton Process" which has been tested at a pilot plant scale over a continuous 24 day period can offer significant benefits over the traditional smelter route, including: 

• Increased or comparable recoveries;
• Reduced concentrate transport costs;
• Shorter processing pipeline and therefore more rapid payment for products;
• Increased payment for products by up to 20%;
• Reduced environmental impact.