In Tanzania the government are notoriously slow and unreliable when it comes to VAT refunds. I don't think Walkabout have followed the legal requirements to enter into a Framework Agreement with the Government together with free carried interest in Lindi and that might be an impediment to a VAT refund.
If the company fails to raise funds in the short-term a suspension of operations is a distinct possibility as the graphite market is in oversupply and sufficient revenue from operations cannot be created out of thin air.
In Tanzania the government are notoriously slow and unreliable...
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