agm chairman's address, page-5

The chairmans address is a good summary of exactly where this company is currently at. Every time I look at the figures for Tala Hamza I get blown away by how much this project could transform TZN with our current capitalisation of just $55 million. The points I really liked are how they should be able to meet their financing obligations for Tala Hamza through the predicted cash flows from Angas. I also liked that they have explored some of the corporate opportunites available which may have provided some short term comfort but are instead holding their nerve and focussing on the long term benefits for share holders. At least they seem smart enough to not partner up with anybody at a time when their share price nowhere near reflects their potential value unlike my other major holding GDO.