Bisichi Mining plc
Report on payments to governments for the year 2015

Bisichi Mining plc together with its subsidiaries issues the following report on payments to government for the year ended 31 December 2015.

INTRODUCTION
This Report provides an overview of the payments to governments made by Bisichi Mining plc and its subsidiaries for the year ended 31 December 2015 as required under the UK Reports on Payments to Governments Regulation 2014 and its amendment in December 2015 (the UK Regulations). This Report is also intended to satisfy the requirements of the Disclosure and Transparency Rules of the Financial Conduct Authority in the United Kingdom.

BASIS OF PREPARATION
Reporting entities
This report includes payments to governments made by Bisichi Mining plc and its subsidiary undertakings (Bisichi Mining). Payments made by associates and entities over which Bisichi Mining has joint control are excluded from this report.

Activities
Payments made by Bisichi Mining to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals (extractive activities) are to be disclosed in this report.

Government
Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.

Project
Payments that are reported at project level except that payments that are not attributable to a specific project are reported at legal entity level. Project is defined as being the operational activities which are governed by a single contract, or licence agreement, and form the basis for payment liabilities with a government.
If agreements of this kind are substantially interconnected (i.e. forming a set of operationally and geographically integrated contracts, licenses, leases or concessions) these are treated for the purposes of these Regulations as a single project. Indicators of integration include geographic proximity and common operational management.

Payments
The information is reported under the following payment types:

Taxes
These are any taxes paid by Bisichi Mining on its income and profits in accordance with legislation enacted in the applicable jurisdiction. Payments are reported net of refunds. Value added tax, personal income taxes, social taxes, property taxes are excluded.

Royalties
Royalties is any mining royalty payable in the Republic of South Africa.

Fees
These are any fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector are excluded.

Infrastructure improvements.
Payments in kind in the form of infrastructure expenditure other than in circumstances where the infrastructure is expected to be primarily dedicated to operational activities throughout its useful life. UK Regulations do not require reporting social or community payments, such as payments to build a hospital or a school.

Other types of payments
Other types of payments that are required to be disclosed in accordance with the UK Regulations but are not relevant to Bisichi Mining operations are the following:
– Production entitlements
– Dividends
Including dividends paid to a government in lieu of production entitlements or royalties. Dividends paid to a government as an ordinary shareholder on the same terms as to other ordinary shareholders and not paid in lieu of production entitlements or royalties are excluded.
– Signature, discovery and production bonuses
Payments are reported on a cash basis. No in-kind payments were made during year ended 31 December 2015.

Materiality Level
In line with the UK Regulations, where a payment or a series or related payments have not exceeded £86,000 they have not been disclosed.
During the year ended 31 December 2015 no payments made by Bisichi Mining exceeded this amount.

Exchange Rate
Relevant payments are made by Bisichi Mining in South African Rand and for the purpose of this report are translated to UK Sterling using the annual average exchange rate for the period.

PAYMENTS PER GOVERNMENT  1
Government                             Taxes              Royalties            Fees           Infrastructure improvements            Total
Republic of South Africa           –                          –                        –                                      –                                    –
Total                                            –                          –                        –                                      –                                    –
PAYMENTS PER PROJECT 1
Entity                                                  Project               Country/ Government         Taxes          Royalties             Fees              Infrastructure improvements         Total

Black Wattle Colliery (Pty) Ltd         Black Wattle      South Africa                            –                       –                       –                                           –                               –
Total                                                                                                                              –                        –                       –                                           –                               –

1. No payment during the period exceeded the £86,000 threshold.
A copy of the report referred to above has been sent to the National Storage Mechanism and will shortly be available for viewing at www.Hemscott.com/nsm.do

For further information, please contact:
Garrett Casey
Company Secretary
Bisichi Mining plc
Tel: 020 7415 5000
28 June 2016

Bisichi Mining PLC (“the Company”)

The Company is pleased to announce that at the Company’s 104th Annual General Meeting held on 10 June 2016 at 24 Bruton Place, London W1J 6NE all ordinary and special resolutions concerning ordinary and special business were duly passed.

Proxy votes were as follows:

ORDINARY RESOLUTIONS

Resolution 1

To receive and adopt the Company’s annual accounts for the year ended 31 December 2015 together with the directors’ report and the auditors’ report on those accounts.
Votes                                                        Votes
Those in favour:         5,610,312                 Discretion   2,260
Those against                   0                       Withheld    1,855,110

Resolution 2
To approve the remuneration report (other than the part containing the remuneration policy referred to in resolution 3 below) for the year ended 31 December 2015.
Votes                                                      Votes
Those in favour:        5,603,741               Discretion    2,260
Those against                2,379                 Withheld    1,859,302

Resolution 3
To declare and approve a final dividend of 3.0p per share.
Votes                                                    Votes
Those in favour:         5,610,312            Discretion     2,260
Those against                  0                    Withheld     1,855,110

Resolution 4
To re-elect as a director Sir M A Heller.
Votes                                                    Votes
Those in favour:          5,609,809         Discretion    2,260
Those against                    503             Withheld     1,855,110

Resolution 5
To re-elect as a director Mr C A Joll.
Votes                                                   Votes
Those in favour:        5,609,809          Discretion    2,260
Those against                    503            Withheld      1,855,110

Resolution 6
To re-elect as a director Mr J A Sibbald.
Votes                                                    Votes
Those in favour:       5,608,742            Discretion  2,260
Those against                  503             Withheld      1,856,177

Resolution 7
To reappoint BDO LLP as auditors of the Company.
Votes                                                  Votes
Those in favour:      5,609,904           Discretion   2,260
Those against                  408            Withheld     1,855,110

Resolution 8
To authorise the directors to determine the remuneration of the auditors.
Votes                                                 Votes
Those in favour:   5,609,593             Discretion     2,260
Those against            719                   Withheld       1,855,110

Resolution 9
To authorise the directors to allot securities.
Votes                                                Votes
Those in favour:  5,609,593             Discretion      2,260
Those against           719                   Withheld       1,855,110

Special Resolutions

Resolution 10
To empower the directors to disapply statutory pre-emption rights.
Votes                                               Votes
Those in favour: 5,609,587             Discretion       2,769
Those against      1,855,326            Withheld            0

Resolution 11
To authorise the calling of general meetings of the Company on 14 clear days’ notice.
Votes                                                Votes
Those in favour: 5,610,096               Discretion      2,260
Those against            216                 Withheld         1,855,110

Resolution 12
To authorise the Company to make market purchases of its ordinary shares.
Votes                                               Votes
Those in favour: 5,610,096             Discretion       2,260
Those against 216                           Withheld         1,855,110

Copies of the Special Resolutions referred to above have been sent to the National Storage Mechanism and will shortly be available for viewing at www.Hemscott.com/nsm.do

For further information, please contact:
Garrett Casey
Secretary
Bisichi Mining plc
Tel: 020 7415 5000
10 June 2016

END