Ann: Project Approvals and Corporate Developments, page-41

Graphene

The extraction exercise is set to take place in the period of 20 years. “If these two projects will be well implemented and managed, it’s obvious the two districts and Lindi Region in general will make a big economic step,” he said.

"If" is the big word. He's a politician just like politicians everywhere talking up the prospects for his people.

I'm not saying the government doesn't want the projects to go ahead, why wouldn't they want foreign investment, tax revenue and employment but that doesn't mean that they are going to pay for it!

I've read a lot about projects in all different countries (including Australia) where the government is supportive of big projects but they don't pay for them.

IMO I don't know how you can say that VRC will be the top pick in the management regard? What solid evidence brings you to that conclusion? SH may have had experience in Tanzania form his time at MNS but the remainder of their board has been in country for as long as he has?

Trevor Matthews has been in the job for a month and has just visited there.

In my experience overseas I have seen a lot of good projects not get financed for a number of reasons. Investing in start ups is all about trying to minimise as much risk as you possibly can. My problem with this sector which I have said over and over is that there is no precedents from the perspective that no one has been able to get debt financing up until this point. I believe this is because there hasn't been a listed graphite company get into production yet to demonstrate if it can actually make money and as there is no spot market no one can accurately price what the stuff sells for.

When SYR gets into production this will be the first time the market here gets a real insight into any of these things. Regardless of whether people in different companies posting on various threads on this forum agree, their ability to execute will set a precedent that IMO the bank will then be able to model, regardless if certain holders think their company's have a better product or not.

So until then I still maintain that as an investor the only assumption you can make re financing is through shareholder equity until this all plays out.