8c, page-3

No idea about the time frame of the JV with Barrick but presumably it has a time clause where SBS assume full ownership if Barrick walk away or do not go on to complete a feasability study within the time frame of the JV. Agree though that Barrick have been very slow in their resource modelling and decision making. They have slowed expendature to a snails pace though based on recent SBS ann) suggesting exploration and infill in the Tusker region is all but finished. They certainly have drilled enough for good resource economic modelling to be completed...it is just the decision that we await now....Seems to me given their fast track development of the other Barrick low grade project in Tanzania that the delay is not a good sign..

As for Sunridge, their feasability study is much delayed and looks to be delayed a lot further as the latest ann suggests they are out of their depth with this type of feasability study and will require the input of local area technical specialists to complete the job. Having extensive resource infill and exploration projects continue in in the region also needing to be factored in does not help speed the process (but will certainly help the eventual outcome!). Oh well..interesting times. Anvil may take over at bargain prices and we will never get to see or take full advantage of the promise that SBS has to offer..