Press announcement 9 January 2012
Village achieves stable levels of output for December quarter
- Due diligence successfully completed at Blyvooruitzicht
Village today announces that a total of 44 627 ounces of gold and 837 tons of antimony were produced during the December 2011 quarter.

Gold production for the quarter was 22kg (705 oz) less than the forecasted gold production for the quarter set out in the SENS announcement released on the on 17 November and some 42kg (1 356 oz) less than during the September 2011 quarter .

Gold production at Tau Lekoa was negatively impacted whilst new panels were established post the seismic activity experienced in August 2011.

Buffelsfontein performed consistently quarter on quarter.


Antimony production at Cons Murch was 28% lower than the forecasted production of 1 159 tons for the December 2011 quarter, due to the negative impact of the slow start up of the mine post the fatal accident as well as the industrial action experienced at the mine during the early part of the December 2011 quarter.


The table below provides more information of the production achieved at each of the Village mines during the December 2011 quarter versus the September 2011 quarter and production guidance released in the November 2011 announcement.


December quarter September quarter % change
Production guidance % change
Tau Lekoa - gold oz 28 773 29 843 $B"-(B 4% 29 578 $B"-(B 3%
Buffelsfontein - gold oz 13 634 13 774 $B"-(B 1% 13 503 $B",(B 1%
Cons Murch - gold oz 2 219 2 366 $B"-(B 6% 2 251 $B"-(B 1%
Cons Murch - antimony tons 837 1 448 $B"-(B 42% 1 159 $B"-(B 28%
Village CEO Bernard Swanepoel commented: $B!H(BNotwithstanding the somewhat lower production levels at the operations, Village is pleased that its operations are now achieving stable levels of output.

The higher average gold price achieved during this quarter will positively impact on earnings and offset the impact of the lower production$B!I(B.


Village has concluded the due diligence of Blyvooruitzicht Gold Mining Company Limited, and is progressing towards concluding the transaction.


Operational and financial details for the December 2011 quarter (FY 2012) will be provided in the December 2011 Quarterly Report, which is expected to be released on SENS towards the middle of February 2012.


Contacts:
Village CEO | Bernard Swanepoel | | 083 303 9922 Vestor | Media and Investor Relations | Louise Brugman | | 011 787 3015 | 083 504 1186
Logo_sharper02 media & investor relations
louise brugman managing director T: +27 (0) 11 787 3015 C: +27 (0) 83 504 1186 skype louise.brugman E: www.vestor.co.za
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