Ann: Update on Status of Tankoro 2 Exploration Permit, page-13

Wagner get 'given' gold deposits in return for services rendered. The deposits have gold near surface and are either operating or can be turned into an operation very quickly. Think gold panning, stamp mills (African's bashing rocks and dirt with hammers), cyanide ponds made out of plastic sheeting like you put in your garden bed to stop the weeds from growing through. Very rudimentary, very low cost, bonded labour, environmental disaster, safety disaster. Absolutely nothing like what a Western company operation would bring to the equation. After a month the gold is flowing into smelted bars, Wagner fly into the local airstrip, the gold bars are loaded onto the plane and the plane heads back to wherever the next collection point is (maybe Chad or Central African Republic) and then it eventually gets laundered into the internaitonal market. Nice gold wedding rings or bullion on show in Dubai. Wagner gets paid, local government enablers get their cut personally, state leaders get their cut personally, the business elite get their cut too and the workers get maybe $50 a month for their effort. Sounds like a good deal to me.