Ann: Supplementary Prospectus, page-47

Yes, really hard to get project finance finance especially for single mine project start ups, especially for projects in Africa. Strandline had a $26m Facility from Ned bank approved in 2020 for their project in tz but they never drew down on it and i suspect the reason was the lack of certainty around the 16% FCI. I don't know if that situation has changed but no western bank would provide debt until the legislation and regulations giving certainty are in place. For the sake of SH's they raise the equity and get into production. It would be a shame to see another half built graphite mine mothballed like Battery Minerals did in Mozambique.