Wal King, page-81

Matt

China has been admitting that they are interested in Mbalam-Nabeba but killed the deal hours before it's done. They are the major shareholders but did not inject any money into the company thinking that it will be in their mercy so that they can pocket it for nothing. Luckily we have Noble and the consortium came on board. That could make them nervous, and then the bankable off-take agreement to support finance, another nightmare to them.

When we decided to have the EPC rail/port tendered, they took 6 out of 8 (?) tenders and came back with a laughable MOU that needs China Gov't to sign off. However, to their surprise, it was Mota-Engil won the tender. Then we have the Ukraininan billionaire threw $40m to us to keep us going, and we have Wal King join the SDL party. They obviously were desperate and tried to stop this at the AGM, but FAILED.

The Board would have known China's dirty trick long time ago and their votes at the AGM just to reveal and confirm to all shareholders/investors and the two African Governments what their intention is.

IMO, the Board is in a fighting mode. They are more determined than ever to succeed. Time will tell.

Cheers.

Pikapika