As always, Epanko is dependent on Tanzania. Stating the obvious....

As always, Epanko is dependent on Tanzania. Stating the obvious. And Tanzania appears incapable of chewing gum and walking at the same time, but the resolution of the Barrick dispute is bullish. They no longer need to do two things at at the once so they can now focus on Epanko.

The WA project location is on bought time - literally. Geographically it does not make sense, but a $35m Government loan ensures a long time of profitability before they move locations. It will also help protect IP, which is very important.

The Australian Government in-principle debt funding support highlights how well EGR has maneuvered and how serious a proposition it is. That's Germany and Australia literally considering direct funding (and i suspect receiving both). I suppose a 'critical resource' and serious business approach without smoke and mirrors will do that for you.

When Tanzania ticks off on Epanko funding i suspect it will lead to a pretty quick - in comparison to the last few years - knock-on for KFW approvals, 2nd bank approvals and share price rise.

I still don't respect Spinks. I believe his management is responsible for 1 of the 2 years Epanko is delayed. But that does not mean EGR is not a hell of a proposal. I am always watching, but mostly Tanzania, that sign off is key for me.