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INTEGRATED ANNUAL REPORT 2016 - Merafe …

CINTEGRATED ANNUAL REPORT 2016 INTEGRATED ANNUAL REPORT 2016 DMERAFE RESOURCES LIMITEDC ertain statements in this REPORT constitute forward looking statements . Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performances, objectives or achievements of Merafe Resources Limited and its subsidiary companies, as well as the industries in which it operates, to be materially different from future results, performances, objectives or achievements expressed or implied by these forward looking performance of the Merafe Group is subject to the effect of changes in commodity prices, currency fluctuations, uncertainty around the supply of electricity, the risks involved in mining and smelting operations and the operating procedures and performance of the Venture.

1 INTEGRATED ANNUAL REPORT 2016 www.meraferesources.co.za We are pleased to present to you the integrated annual report for the Merafe Group, which includes Merafe Resources Limited

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