Bypassing the SML 30% Listing Laws, page-13

Hi Bailey, from your post "Magnis controls the distribution of profits amongst the consolidated entity, and the Tanzanian public own 30% of bugger all."

This sounds all well and good for us shareholders but not very good for the Tanzanian people.
Also under a Special mining Licence the Tanzanian Govt is free carried for 5% of the project from memory. Does this mean that they would also be left holding 5% of "bugger all". Again not very good for the Tanzanian people.

Lets hope MNS don't go down this route as suggested by yourself, hopefully a sense of community responsibility will reap far larger long term rewards for MNS than what is gained by a bit of transfer price manipulation to restrict profits flowing to the original owners of the resource, the Tanzanian public.

Also your suggestion we can claim the whole project infrastructure under the SEZ seems a bit dubious given the infrastructure is required to produce the basic graphite concentrate, not value add such as spherical may be classed as.

Anyway, look forward to any confirmations/clarifications you may receive from your correspondence with the company, I may need to reconsider my investment in MNS as I only invest in companies with high community standards, not sure if leaving the people of Tanzania holding "bugger all" fits the bill, so lets hope its not the plan.

Think this line from the your post says it all "allow Magnis to subvert the intentions of the new legislations". Lets hope not.


Thanks