Ann: Approval for US$40m in new debt facilities from CRDB Bank, page-34

BKT were wise to qualify this and previous announcements relating to debt facilities. With multiple lenders, it wont be easy to get agreement between the banks and close them all. In Apr21 another Australian junior announced a debt facility with CRBD for its Tz graphite project which was never drawn down on due to unachievable CP's, in particular a SBLC. It was just a debacle. Hope BKT have better luck.

Working with its debt finance advisor, ICA Partners, Black Rock has begun the process to document full form facility agreements confirming the final structure of the Mahenge project debt package. Such facilities are expected to contain terms and conditions usual for facilities of this type, but there is no guarantee of the conditions potential lenders may seek to impose, or that facility agreements will ultimately be entered into.