Ann: Change of Director's Interest Notice, page-7

Hi Croc,

it is good you are starting to research MRC, no doubt you want to jump ship from WKT,

MSR is the company that holds the Tormin project, the ownership is 68% the minority shareholders are free carried (the local black empowerment/indigenous people)

MRC controls 100% of the project and the minority shareholders are paid dividends when the company declares a profit.in simple terms, its like the Tanzania government Free Carried Interest in your project, which can be upto 50% ownership.

The loan from GMA Garnet is yet to be fully drawn down. Around $3.6mil out of the $10-11mil has.

I am sure cashflow will be used to service the debt.