RAND MINING LIMITED — Interim / Quarterly Report 2015

Jan 8, 2015

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

January 9, 2015

Monthly Production Report for December 2014

End of Month Status Raleigh – Production

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Pegasus, Rubicon, Hornet – Development and Production

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green indicates new developments

MINE PRODUCTION
		Raleigh	Rubicon & Hornet	Pegasus
Ore	t	4,267	44,460	7,306
Grade	g/t Au	6.7	9.8	7.4
Gold	oz	923	14,007	1,750
Rand’s Entitlement	%	12.50	12.25	12.25

Grade g/t Au 6.7 9.8 7.4 Gold oz 923 14,007 1,750 Rand’s Entitlement % 12.50 12.25 12.25	Grade g/t Au 6.7 9.8 7.4 Gold oz 923 14,007 1,750 Rand’s Entitlement % 12.50 12.25 12.25	Grade g/t Au 6.7 9.8 7.4 Gold oz 923 14,007 1,750 Rand’s Entitlement % 12.50 12.25 12.25	Grade g/t Au 6.7 9.8 7.4 Gold oz 923 14,007 1,750 Rand’s Entitlement % 12.50 12.25 12.25	Grade g/t Au 6.7 9.8 7.4 Gold oz 923 14,007 1,750 Rand’s Entitlement % 12.50 12.25 12.25
MINE OPERATING COSTS
Total Cost$M	Raleigh*	Pegasus	Unit Cost	Rubicon & Hornet
December 14	0.863	1.257	$/t ore	116
November 14	1.610	0.000	$/ozgold	370
* includes rehabilitation costs

MINE DEVELOPMENT
				Raleigh		Rubicon & Hornet		Pegasus
Capital	Decline		m	0.0		49.4		131.2
	Secondary		m	0.0		85.2		155.9
Operating	Waste		m	0.0		0.0		0.0
	Ore		m	5.3		270.9		92.4
	Past Fill		m	12.0		42.0		0.0
End of monthposition					RL(m)		below surface(m)
Raleigh Decline		bottom			5618		727
Rubicon Decline		bottom			5999		344
Hornet Incline		top			6244		99
Hornet Decline		bottom			5876		467
Pegasus Incline		top			6136		207
Pegasus Decline		bottom			6101		242

Hornet Incline top Hornet Decline bottom Pegasus Incline top Pegasus Decline bottom	Hornet Incline top Hornet Decline bottom Pegasus Incline top Pegasus Decline bottom	6244 5876 6136 6101	99 467 207 242
End of month EKJV STOCKPILES
ROMpad	Ore Source	Ore	Grade
		t	g/t Au
Raleigh	Raleigh	4,554	6.3
Rubicon	Rubicon & Hornet	7,654	9.0
Pegasus	Pegasus	388	15.1
Kanowna Belle	Rubicon & Hornet	28,981	10.2
Kanowna Belle	Pegasus	8,832	7.5

Toll Processing

During the month, 2,954 t (wet) of Raleigh ore, 64,658 t (wet) of Rubicon & Hornet ore and 8,920 t (wet) of Pegasus ore were hauled to the Kanowna Belle Plant and 62,862 t of EKJV ore was processed.

Toll Processing During the month, 2,954 t (wet) of Raleigh ore, 64,658 t (wet) of Rubicon & Hornet ore and 8,920 t (wet) of Pegasus ore were hauled to the Kanowna Belle Plant and 62,862 t of EKJV ore was processed.	Toll Processing During the month, 2,954 t (wet) of Raleigh ore, 64,658 t (wet) of Rubicon & Hornet ore and 8,920 t (wet) of Pegasus ore were hauled to the Kanowna Belle Plant and 62,862 t of EKJV ore was processed.	Toll Processing During the month, 2,954 t (wet) of Raleigh ore, 64,658 t (wet) of Rubicon & Hornet ore and 8,920 t (wet) of Pegasus ore were hauled to the Kanowna Belle Plant and 62,862 t of EKJV ore was processed.	Toll Processing During the month, 2,954 t (wet) of Raleigh ore, 64,658 t (wet) of Rubicon & Hornet ore and 8,920 t (wet) of Pegasus ore were hauled to the Kanowna Belle Plant and 62,862 t of EKJV ore was processed.
Bullion accredited to RAND	and TRIBUNE Accounts from Kanowna Belle
Month	Gold(oz)	Silver(oz)	Rand’s sharegold
December 14	9,321.316	2,151.751	2,330.329
November 14	10,699.134	2,806.185	2,674.784