Ann: Short Term Funding and Appendix 3Y, page-40

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GT55

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30/01/19

07:18

Post #: 37258736
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Originally posted by Jayse: ↑

Only another untimely delay unfortunately, just when we started to get some traction and looked strong from a SP perspective. It's a shame for those of short sighted views. However, we will be done on either of the Mauritius or Tanzanian sooner rather than later... I am just as frustrated by the lethargic approach of the approval process as the next, however I am a firm believer that it will only be a matter of time until the announcement comes through that we have been approved on one or the other. Too much money to be made in this mine to be ignored, with Tanzanian gov't to earn too much for them to just walk away from it. With only 6% of the tenement explored and over 30 years LOM confirmed SO FAR, it could easily be one of the largest Large Flake Graphite mines in the world. As such I have taking the chance today pick up more stock from the nervous hands that are not prepared to wait. I am more concerned with where we will be in 3 months.. by this stage we will be well and truly on the way and all this circus of approvals will be behind us and we can focus on how much money this mine can be producing instead of the constant delays that have now gone past the border of ridiculous. But like I said, I and all of my circle who all have a decent holding in this are not throwing the baby out with the bath water like many on here are. Will look forward to posting again once the good news comes in....

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Yes J its frustrating, Maritius has been in the background for well over six months so probably not too long to wait, but it won’t tidy up the local listing requirement for stage 2 Capx like it would have been, so there will still be some work to do negotiating that part unless the individual at the CSMA that feels a 15% return on an investment doesn’t require further security for those individuals and groups that want to invest in their country. (Asimwe only has so many children to put up as collateral).
IMO This is the latest example of why it’s taking so long in this country to get things done.
Its back to the board for the rest of the summer.
i am joking about Aswime’s children

VRC Price at posting: 1.8¢ Sentiment: Hold Disclosure: Held
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