Interim Management Statement

12 June 2008

                              Bisichi Mining PLC                               
                                                                               
                         Interim Management Statement                          

Bisichi Mining PLC, the UK Mining company with direct coal mining operations in
South Africa, held its AGM today at which an update on current trading
operations was given. 

Andrew Heller, Managing Director, noted some of the key achievements of 2007 as
set out in the Annual Report published 31 March 2008 and listed the significant
events announced by Bisichi Mining since that date, including:

  * 17 April 2008 - Full and final settlement of all disputes with the group's
    former Black Economic Empowerment partner in South Africa;
   
  * 22 April 2008 - Commencement of Opencast Coal Mining Operations at Black
    Wattle Colliery
   
  * 23 April 2008 - Appointment of Robert Grobler as Director of Mining,
    Bisichi Mining PLC
   
  * 23 April 2008 - Appointment of Luis Pinel as General Manager, Black Wattle
    Colliery
   
Reporting on mining activity in the first quarter, Mr Heller noted that
production from Black Wattle was lower than anticipated due to planned
maintenance on the Voest Alpine Continuous Miner and localised flooding in
areas of active operation in the mine.  Mr Heller reported that the overhaul of
the Continuous Miner has been completed and that the machine is now operating
at expected levels. 

With regard to flooding, Mr Heller remarked that Black Wattle, as with any
longstanding mine with extensive underground workings, is constantly
accumulating groundwater which requires pumping, treatment, and disposal. 
During the current rainy season (November - May), rainfall exceeded the typical
seasonal average by a factor of two, which led to localised flooding and
increased expenditure on extra pumps and water disposal equipment.  Although
rainfall and water accumulation on the mine has subsided, it did interfere with
the active operations of the mine over the first quarter, and this has led to
an approximately 15% decrease in production.


Mr Heller was pleased to report that, with the advent of the dry season (May -
November), mine management was undertaking a number of initiatives to address
the water issue over the long term.  Meanwhile, production has returned to
normal across all sections.  While Mr Heller felt that the production decline
would have an effect on half-year production figures, it would not have an
impact on overall annual output.  In addition, Mr Heller noted that one
positive aspect of the surfeit of water on the mine was that the mine washing
plant was not water-constrained (a problem with many mining operations in South
Africa, where water is scarce) and the plant's operation could be enhanced and/
or expanded easily.

Mr Heller also updated the AGM on the status of the opencast operations at
Black Wattle.  He was pleased to report that, after an initial period of
stripping overburden, the opencast contractor had already carried out the first
blasting of the coal seam and that active coal mining was already taking
place.  It is anticipated that the first opencast coal will be washed and
delivered to market by the end of June, with full production from the opencast
section being achieved shortly thereafter.

Mr Heller also noted that the opencast section was producing high-yielding
export quality coal and that the operation of the opencast section should
reduce cost per run of mine tonne and improve product quality.    

Tom Kearney, Commercial Director, provided the AGM with a short overview of the
international coal market, noting that prices for Black Wattle's export and
domestic products were currently at historic highs and that the near and medium
term outlook for these markets looked very positive.

Closing the meeting, Mr Heller stated that, despite the small setbacks in the
first quarter, Black Wattle had returned to full production in the second
quarter.  With coal prices at historical highs, Black Wattle back to full
production, and full tonnage from opencast mining coming on stream in the
second half of 2008, the prospects for our operations have never looked better.

The half year results to 30 June 2008 will be announced in late August.