Peter Cook; Michael Cook; Ron Nel

MMH will list a total of 153 730 865 ordinary shares with a par value of one cent per share at the closing price of Proper Group Limited as at the close of business on Thursday, 15 December 2005, of 20 cents per share.  MMH’s primary asset is Miranda.

Ron Nel

Miranda came about through the acquisition of 894 mining properties, covering some 158 000 hectares and 110 original farms in the Northern Cape, North West, Free State, Gauteng and Mpumalanga provinces from Goldfields in 1999 and 2000 when it unbundled. The events leading to the unbundling of Goldfields imply that the deposits acquired by Miranda have not been closely considered from a commercial feasibility perspective for at least a decade (and the majority of them for considerably longer, given Goldfields’ strategic emphasis since the 1980s on large-scale metal projects). An opportunity was recognised by Proper and Miranda to identify and unlock value from these deposits. The various mineral deposits had been subjected to varying degrees of survey, sampling and drilling, but exploration had not extended to the point of identifying proven reserves in some cases.

Miranda subsequently identified potentially commercially feasible projects on 74 of the original farms (mostly encompassing a number of contiguous properties) amongst its portfolio of mineral rights. A total of 54 applications for "new order" permits for the prospecting and exploration of projects ranging from base minerals, magnesite, andalusite, fluorspar, sand, stone, clay and coal to diamonds and gold, were lodged with the Department of Minerals and Energy (DME) and, to date, 46 of these applications, encompassing approximately 150 different properties, have been accepted by the DME.

Carmel Harris Lee; Harry Harris; Ron Nel; Natalie Nel

Among the primary assets of the company are:

• Rozynene Bosch base metals and silver deposit,
  located on a 4 000 hectare farm between Kakamas and Kenhardt in the Northern Cape. Some R12 million has been spent on geological investigations to arrive as a resource estimate of 6 million tons of copper, lead, zinc and silver.
  
• Mooifontein magnesite deposit,
  located on various properties amounting to 1 100 hectares in the Burgersfort area of Mpumalanga. A R6.5 million exploration programme has been undertaken to date.
  
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  N Nel;R Nel;L Chakela;C Badenhorst;K Gribnitz;M vd Berg

  Sterkfontein and Fraaiuitzicht alluvial platinum deposit,
  located on 4 200 hectares in the Steelpoort and Burgersfort areas of Mpumalanga. A feasibility study has been concluded, with a resource estimate of more than 3.2 million tons of PGMs at an average grade of 3.26 g/t having been identified.
• Nooitgedacht coal deposit,
  a 2 200-hectare property between Nigel and Delmas in Mpumalanga. The current resource estimate amounts to 12 million tons. 
• Turffontein and Blaauwbank diamond deposits,
  covering 7 200 hectares near Ventersdorp in North West Province.
• West Rand Clay deposits, between Soweto and Klerksdorp. A Competent Person’s Report on the Turffontein farm deposit has identified an Indicated Mineral Resource of 18 million tons with an in situ value of R216 million. 
• Kromdraai fluorspar deposit,
  comprising a well-defined open cast prospect on a 1 400-hectare property in the Rust de Winter district in Gauteng.
• Schagen and Schoongelegen gold deposits,
  comprising Black reef outcrops and old dumps on properties totaling 3 500 hectares in the Mpumalanga Black Reef system.
• Lydenburg andalusite deposit,
  on properties covering 14 000 hectares in Mpumalanga.

It is MMH’s intention to apply for a secondary listing in the LSE’s Alternative Investment Market (AIM) to access the international investment markets.

Alan Thompson; Peter Cook; Michael Cook; Ron Nel; Harry Harris

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