Ann: Further Economic Framework Agreement Update, page-39

Seams to be progressing along but a lot of complexity left to the economic framework finalization.

Key changes included the introduction of a mandatory 16% free-carry ownership of projects.
Tanzania's fiscal regime typically involves a 3% royalty on project revenues and a 30% corporate income tax rate.

Working out a rate of the concentrate before leaving Tanzania ie SMM spot prices or the UK buying price for the above to be applied in a taxable year with deductions.

Will the 16% free carry over to the UK of the refining of oxides and share in the profit at UK tax rates.

Many more interesting variables to consider when trying work out the NPV & EBITA.

Mr Bardin Davis MD - "over 20 years of experience in investment banking and corporate experience in the mining and energy sectors"
Would be up to the job and would understand the complexities for both parties to reach a beneficial deal.