Ann: New Mining Convention and extended Mining Permit for Syama, page-6

Colin

With so much capex expenditure to write off in Mali and I think they were also able to offset some interest payments on inter-company loans (but I have not got a proper handle on how that worked) made by RSG to their Mali subsidiary. So my expectation is that their shorter term net cashflow will lower than under the previous convention. One thing the west African govts are always short of is revenue, so I very much doubt they gave more than they got in this agreement.

I suspect there is a fair bit of spin in this announcement. But like I said I an relieved that something that on the surface looks OK has been announced.

loki