Ann: Agreement with Tanzanian Government to progress Nachu, page-198

Northen,

Its really a non-issue whether MTT is a monopoly or not in Tanzania.

Firstly, there are graphite suppliers across the globe as well as synthetic graphite, so there are plenty of competitors worldwide.

Secondly, they are expressing fears that their company (competitors in Tanzania) will lose their competitive edge to MNS, and as such the value of their investment will be greatly diminished.


The fact that our company has achieved so much is primary due to the hard work and talent of our management team - just compare what MNS has achieved in the last 9 months (approx) since the introduction of these new legislations to that of our competitors in Tanzania - miles and miles apart!!!

If they have a bone to pick, they should go back and whine to their company - their management team are responsible for the results of their company and if they failed, its their problem.

We are Not here to slow down to allow them to catch up or give them a leg up.

I can assure you if they were in front of us, they would be here crowing all about it.

Its a tough competitive world out there, only the most prepared and best will survive.

We are Not only competing with them, we are competing with companies from around the world, so its essential we move as fast as we can and secure as many deals as we could to ensure our survival.

We are Not there yet, but we are far in front of them, and I would prefer it that way.

And if their companies become collateral damage in the process, well tough luck - that is life in a tough competitive world.