BISICHI PLC

Bisichi PLC is a diversified company focused on coal mining and processing in South Africa as well as property investment in the UK. Bisichi owns Black Wattle Colliery, an operating coal mine located near Middelburg in South Africa's Mpumalanga province. Black Wattle produces approximately 1 million tonnes of coal per year from the mining of both surface and underground reserves.

In addition to mining activities, Bisichi also processes coal through its majority-owned subsidiary Sisonke Coal Processing. Bisichi has invested over $100 million in developing Black Wattle since acquiring it in 2007. The South African mining assets have coal reserves to support approximately 7 more years of mining.

Additionally, Bisichi has a portfolio of UK commercial properties leased primarily to retail businesses. The freehold and leasehold properties were valued at £10.4 million as of December 2022. The properties provide the company with a source of stable rental income and support further development of the company's mining interests in South Africa.

The company has reviewed and assessed the underlying performance and resources of its counterparties including its subsidiary undertakings and joint ventures. As of December 2022, Bisichi had a market capitalization of approximately £35 million.