Ann: ESIA Progress, page-7

Hi Nevm003,

a) Yes

b) A resounding No!

Not TAW-specific, but a problem with West Africa’s iron ore sector. In times of high POIO, there is increased appetite for risk. See the following article (written 12 months ago):

http://www.miningmx.com/page/specia...Africa-s-iron-ore-tough-to-crack#.VdQDoXhUSi4

A few snippets from the article:

According to John Welborn, CEO, Equatorial Resources, “One of the results of what has happened in the price environment in the market is that now even the big companies are actually recognising that the way to go is the staged approach.” (Deme’s NB: Check)

Smaller targets, closer to existing infrastructure are also easier to finance. (Check)

London-based Tom Wilson, director of Intelligence and Analysis at Africapractice, said the infrastructure hurdle is the single biggest challenge facing mining companies in West Africa.
“If a company can get the infrastructure right, for the right price, then it will succeed.” (Check on the first point).

What do you mean by marketing? Can you elaborate/ be more specific? Do you mean radio/print advertising for mum and dad investors?

You are aware that Wayne gave a roadshow presentation last month, aren’t you? Not to mention business trips (in the past 6 months) to China, UAE, London. He has presented at several mining conferences (in OZ/ abroad) attended by big institutional players/ sophisticated investors. Rest assured, that the big end of town know of this project.

For mine, these presentations/ trips fall under the banner of 'marketing' activities, so not quite sure on your “marketing/market image problem” statement. Besides, we have limited funds for endless admin related expenses. I would much prefer the company direct our resources at the most value-accretive activities at this time (which, IMO, they are doing).

Anyone know if Wayne will be presenting at the Africa Down Under conference in Perth from 2-4 September 2015? I know he presented at this same conference in September 2014.

Cheers,

Deme