Interim Management Statement

BISICHI MINING - Interim Management Statement

PR Newswire

London, May 17

Bisichi Mining Plc ("Bisichi"), the UK mining company with direct coal miningoperations in South Africa, is pleased to provide the following interim updateon its operations:

The physical demand for the lower quality coal we are currently mining at BlackWattle, our South African coal mining subsidiary, has remained strong in 2013in both the domestic and export markets The South African coal market hascontinued to benefit from the stable market conditions and performance of theSouth African railway network, Transnet.

In the year to date, the mine has achieved an average monthly production of155,000 tonnes. Looking forward to the remainder of 2013, in order to addressdemand in both the export and domestic markets for higher quality coal, BlackWattle will be looking at accessing higher quality reserves as well as mininginto other deeper lower quality reserves by opencast mining. Black Wattle willdo everything that it can to keep costs under control in these deeper reservesand to ensure that 2013 is another very good year.

Finally, Bisichi's UK property portfolio continues to perform well despite theongoing difficulties in the UK retail property sector.

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