Money Matters: Technical Market Overview

1. Money Matters: Technical Market Overview 29 May 2012

2. Top - Down Approach • International Markets • Economic Indicators • Currencies • Precious Metals • Local Market • Main Indices • Specific Sectors • Specific Shares `

3. Technical Market Overview • International Outlook • Brent Crude Oil • Gold-$ & Platinum-$ • Silver $ & Copper • US$ versus Euro & GBP • JPY versus US$ • DJ Industrial Average • S & P 500 Index • Nikkei Index • Hang Seng Index • DAX Index • CAC 40 Index • FTSE Index Local Outlook Gold Rand Platinum Rand Rand vs US $ & Euro JSE Overall Index Top 40 Index Mid Cap & Small Cap Index Alt-X Index Gold Mining Index Platinum Mining Index Resource 20 Index Financial 15 Index Industrial 25 Index Opportunities? Summary Conclusion

4. Economic Indicators • Brent Crude Oil • Copper Price • Gold-$ • Platinum-$ • Silver-$ • US$ versus Euro • US$ versus GBP • JPY versus US$

5. Brent Crude Oil Resistance Support Resistance Support Support Bearish

6. Copper Price Resistance Resistance Support Support Bearish

7. Gold-$ Resistance Resistance Support Resistance / Support Support Bearish

8. Platinum-$ Resistance Resistance Resistance Resistance / Support Bearish

9. Silver-$ Resistance Resistance Resistance Support Bearish

10. Economic Indicators • Brent Crude Oil - Bearish • Copper Price - Bearish • Gold-$ - Bearish • Platinum-$ - Bearish • Silver-$ - Bearish • US$ versus Euro • US$ versus GBP • JPY versus US$ Bearish

11. US$ vs Euro $ Weakness / Euro Strength Support Support Resistance Resistance Resistance $ Strength / Euro Weakness US$ Strength

12. US$ vs GBP $ Weakness / GBP Strength Support Support Resistance Resistance $ Strength / GBP Weakness US$ Strength

13. JPY vs US$ JPY Weakness/ $ Strength Support Support Support Resistance JPY Strength JPY Strength / $ Weakness

14. What can we learn? • US Dollar • Strong against Euro - Breaking through Resistance • Strong against GBP - Breaking through Resistance • Weak against JPY – Testing previous Support Bullish

15. International Markets • DJ Industrial Average • S & P 500 Index • Nikkei Index • Hang Seng Index • DAX Index • CAC 40 Index • FTSE Index

16. DJ Industrial Average Resistance Resistance / Support Resistance Support Support Bullish (Just!)

17. S&P 500 Index Resistance Resistance / Support Support Support Support Bullish (Just!)

18. Nikkei Index Resistance Resistance Support Resistance Resistance Support Support Bearish

19. Hang Seng Index Resistance Support / Resistance Resistance / Support Support Bearish

20. DAX Index Resistance Support / Resistance Resistance Support Bearish

21. CAC 40 Index Resistance Resistance Resistance / Support Support Support Support Bearish

22. FTSE 100 Index Resistance Resistance Support Support Support Bearish

23. What can we learn? • US Markets • DJIA: Just turned Bullish • S&P 500: Just turned Bullish • Asian Markets • Nikkei Index: Bearish • Hang Seng Index: Bearish • European Markets • DAX Index: Bearish • CAC 40 Index: Bearish • FT100 Index: Bearish Bearish

24. Gold Mining Index Platinum Mining Index Resource 20 Index Financial 15 Index Industrial 25 Index Local Market • Gold Rand • Platinum Rand • Rand vs US $ • Rand vs Euro • Rand vs GBP • JSE Overall Index • Top 40 Index • Mid Cap Index • Small Cap Index • Alt-X Index

25. Gold Rand Resistance Resistance Resistance Support Support Support Bullish

26. NewGold ETF Resistance Resistance Resistance Support Support Bullish

27. Platinum Rand Resistance Resistance Support Support Bearish

28. Rand vs US $ Support Rand Weakness/ US$ Strength Resistance Resistance Rand Strength / US$ Weakness Rand Weakness

29. Rand vs Euro Rand Weakness/ Euro Strength Support Support Resistance Resistance Resistance Rand Strength / Euro Weakness Rand Weakness

30. Rand vs GBP Support Rand Weakness/ GBP Strength Support Resistance Resistance Rand Strength/ GBP Weakness Rand Weakness

31. What can we learn? • Gold Rand • Bullish (Testing support) • NewGold ETF? • Platinum Rand • Bearish (Testing support) • Rand weakness vs USD vs EUR vs GBP • Testing Support – Weakening • Inflationary - Oil Imports? • Rand Hedge Shares? • Opportunities?

32. Gold Mining Index Platinum Mining Resource 20 Index Financial 15 Index Industrial 25 Index Market Indicators • JSE Overall Index • Top 40 Index • Mid Cap • Small Cap • Alt-X Index

33. JSE Overall Index (Weekly) Resistance Support Support Bullish

34. JSE Overall Index Resistance Support Resistance / Support Support Bullish (Just!)

35. Top 40 Index Resistance Resistance / Support Support Support Cheap or Expensive? Bearish

36. JSE Resources (PE Ratio) Expensive Cheap Cheap

37. JSE Findi 30 (PE Ratio) Expensive Cheap Expensive

38. Top 40 Index Bearish/ Oversold / Market Underperforming

39. Mid Cap Index Bullish / Oversold/ Market Outperforming

40. Small Cap Index Bullish / Oversold / Outperforming

41. Alt-X Index Bearish / Oversold / Under Performing

42. Small Cap Index Bullish Oversold Market Outperforming Alt-X Index Bearish Oversold Market Underperforming What can we learn? • JSE Overall Index • Bullish (Just!) • Cheap or Expensive? • Top 40 Index • Bearish • Oversold • Underperforming • Mid Cap Index • Bullish • Oversold • Outperforming

43. Market Indicators • Gold Mining Index • Platinum Mining • Resource 20 Index • Financial 15 Index • Industrial 25 Index

44. Gold Mining Index Bearish / Overbought /Outperforming

45. Platinum Mining Index Bearish / Oversold / Underperforming

46. Resources 20 Index Bearish / Oversold / Underperforming

47. Financial 15 Index Bullish / Oversold/ Market Outperforming

48. Industrial 25 Index Bullish / Oversold/ Market Outperforming

49. Fin 15 Index Bullish Neutral or sideways Oversold Outperforming Industrial 25 Index Bullish Oversold Outperforming Summary • Gold Mining Index • Bearish • Overbought • Outperforming • Platinum Mining • Bearish • Oversold • Underperforming • Resource 20 Index • Bullish • Bounce? • Oversold • Underperforming

50. Investor Profile R E W A R D Hi Prudent Aggressive Conservative Speculative Lo RISK Lo Hi