Ann: Director Appointment/Resignation, page-19

With Warrick's appointment as "Chair of the National Foundation for Australia-China Relations", it reads to me that he may be relinquishing his seat on the Magnis board due to possible conflicts of interest although importantly, to make way for what Magnis very much require, a finance specialist:

'Mr DeGamia has an Executive MBA, a Graduate Diploma in Banking and a Bachelor of Commerce & Administration with Honours. He is a member of Chartered Accountants Australia and New Zealand and a Fellow of FINSIA.' (1)

MCC, they were ranked 8th in US Engineering News Record's Top 250 Global Contractors in 2019, and have ranked ranked in the top 10 for 11 consecutive years. Certainly are a company to get the job done with Nachu. (1)

Regarding their organisation of a minimum 80% funding, (3) it seems we fit the bill for finance from China Export Credit Agency with a Chinese company being issued the EPC contract in full and assumedly numerous Chinese materials to be used during construction.

Will be great to see Nachu move into construction in 2020. It's imminence was what sparked the run up to $1.12 before the Tanzanian mining laws changed, to which Magnis has emerged from in better shape than before with the SEZ upgrade.

GLTA

1. ASX MNS Announcement 24 Dec, 2019
2. http://www.mcc.com.cn/mccen/focus/_325415/626113/index.html
3. ASX MNS Announcement 11 Dec, 2019