Ann: Change of Director Interest Notices x 5, page-15

both going on in parallel in different domains - Germany + Nedbank already know the KNL project inside out by now... they DEFINITELY have many unanswered questions (which KNL cannot answer on behalf of the Tanz govt)... hence I read in one announcement that one of their officer accompanied KNL to visit some Tanz govt officer..

probably that meeting was with an agenda - a PLEASE ANSWER A FEW QUESTIONS HIS EXCELLENCY types.... or it was just a friendly visit to meet the new mining bosses in Tanzania - we can only sit back and do a chinwag... but let us assume it was to introduce the Germans directly with the Tanzanians so that they can get their answers/clarifications straight from the horse's mouth... now what we cannot decide is whether the Germans (and Nedbank) are happy to hear what they were seeking clarifications from or not...

so my take is -

1) WORST CASE SCENARIO

they met with a specific set of questions and they had them answered step by step and the Germans & Nedbank freaked out and rushed back home to tell their bosses to tear up the KNL application as they don't want to risk US$70m in the hell hole that is now Tanzania

So ANY DAY NOW, we may get an announcement from KNL stating that above and it is curtains for us all holders

2) BEST CASE SCENARIO

the answers they seek are all within the known risks that this (and any other project in Tanzania have atm) and they go ahead with the application - with the option of either not declaring it formally while there is still uncertainty in Tanz and wait for some more days/weeks/months (take your pick) OR they are happy enough to give KNL a CONDITIONAL APPROVAL so that KNL can start their RAP + other work like talking to long lead time suppliers for the mining/processing equipment...

KNL can then put up an announcement with these CONDITIONAL APPROVAL of finance any time they get the green light

3) LIKELY SCENARIO

KNL + Germans + Nedbank + Tanz govt in multiple talks with many to/fro of questions/queries/clarifications which can either lead to SCENARIO#1 or 2 above in due time...

I guess #3 is what we are seeing happen while we wait with KNL spending time/effort/money in the battery pilot as it is not dependent on the Tanz govt and this is the perfect time to do some value addition while they twiddle their thumbs... this exercise can pay huge dividends and make up for lost time / opportunities for us longs...

this is MY observation and I could be totally wrong and you may have an option#4 or no other option... but again, it will amount to nothing as it is US doing the chatting and we don't make the decisions here...

so looking at the risks and weighing up the pros & cons I am staying put for now... some of my fellow holders have pulled out the stumps and called it a day and some new blood could have entered in the recent lull... all part of the game here... I win, I lose, my decision...

hope this answers your query...