Ann: Lindi Jumbo Project Update, page-16

Good Morning Croc,


Do you know why WKT hasn't announced its bridging loan?

I can only assume WKT remains in suspension due to the high risk the second SBLC will not be acceptable, From what Hedge has detailed, the SBLC is needed for the full US$20mil loan, which is a significant risk for any party to take,

Will the underwriter of the offer need to complete their own detailed assessment of the Lindi Jumbo project, or is it more likely the premium required for the SBLC will be significant?

I find it pretty alarming that you state a Bridging Loan is coming, yet no funds have been provided. Are these investors uncertain about investing any funds or is it a case they need to sell other assets?

I also find it interesting Mike hasn't come to the rescue by offering a interest-free short-term loan. I know other company directors have previously done this.

On another point, WKT now claims they are 50% through the construction, When does everyone believe WKT started construction to determine how much longer the developments will take?
is it when the site works first commenced in August/September?

Another point to consider, WKT is only 37% through the construction of the tailings dam, When did these works commence?