RAND MINING LIMITED — Interim / Quarterly Report 2014

Dec 7, 2014

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The Listing Manager Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000

December 8, 2014

Monthly Production Report for November 2014

The production rate at Raleigh will increase as the new stoping front is established. Again, the production schedule at Rubicon and Hornet has been re‐optimized, using some of the resources from Raleigh, to minimize the production shortfall at Raleigh due to the February earthquake. Pegasus is producing development ore.

End of Month Status Raleigh – Production

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Rubicon – Development and Production

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green indicates new developments

		MINE PRODUCTION
		Raleigh U/G	Rubicon U/G	Pegasus U/G
Ore	t	4,253	39,064	13,201
Grade	g/t Au	10.0	9.6	3.8
Gold	oz	1,367	12,111	1,622
Rand’s Entitlement	%	12.50	12.25	12.25

Rand’s Entitlement	% 12.50	% 12.50	12.25 12.25
	MINE OPERATING COSTS
Total Cost$M	Raleigh	Unit Cost	Rubicon
November 14 *	1.610	$/t ore	108
October 14 *	1.328	$/ozgold	347

• includes rehabilitation costs

			MINE DEVELOPMENT
				Raleigh	Rubicon		Pegasus
Capital	Decline		m	0.0		87.5	139.9
	Secondary		m	0.0		60.4	155.1
Operating	Waste		m	0.0		0.0	0.0
	Ore		m	0.0		310.7	76.3
	Past Fill		m	0.0		54.0	0.0
End of monthposition				RL(m)		below surface(m)
Raleigh Decline		bottom			5618	727
Rubicon Decline		bottom			6004	339
Hornet Incline		top			6244	99
Hornet Decline		bottom			5879	464
Pegasus Incline		top			6127	216
Pegasus Decline		bottom			6111	232

Hornet Incline Hornet Decline Pegasus Incline Pegasus Decline	top 6244 bottom 5879 top 6127 bottom 6111	top 6244 bottom 5879 top 6127 bottom 6111	99 464 216 232
	End of month EKJV STOCKPILES
ROMpad	Ore Source	Ore	Grade
		t	g/t Au
Raleigh	Raleigh	3,274	10.9
Rubicon	Rubicon	20,653	7.4
Pegasus	Pegasus	5,663	6.2
Kanowna Belle	Rubicon	26,582	9.9

Toll Processing

During the month, 6,805 tonnes (wet) of Raleigh ore and 54,582 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 57,586 tonnes of EKJV ore was processed.

Toll Processing During the month, 6,805 tonnes (wet) of Raleigh ore and 54,582 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 57,586 tonnes of EKJV ore was processed.	Toll Processing During the month, 6,805 tonnes (wet) of Raleigh ore and 54,582 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 57,586 tonnes of EKJV ore was processed.	Toll Processing During the month, 6,805 tonnes (wet) of Raleigh ore and 54,582 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 57,586 tonnes of EKJV ore was processed.	Toll Processing During the month, 6,805 tonnes (wet) of Raleigh ore and 54,582 tonnes (wet) of Rubicon ore were hauled to the Kanowna Belle Plant and 57,586 tonnes of EKJV ore was processed.
Bullion accredited to RAND and TRIBUNE Accounts from Kanowna Belle
Month	Gold(oz)	Silver(oz)	Rand’s sharegold
November 14	10,699.134	2,806.185	2,674.784
October 14	8,266.176	2,034.682	2,066.543