Ann: Completion of Share Purchase Plan, page-55

Hi Wilma,

From my perspective I'm not overly worried about the sovereign risk of doing business in Tanzania. Yes we got hit by the so called "Black Swan" event but it's no longer front and center - the future is looking less fraught with sovereign risk in that jurisdiction. I've worked in DRC, Mozambique, Ghana, Mali and Tanzania and I've seen huge wealth created for mining company shareholders. In the DRC, Anvil Mining became a billion dollar company based on the output from the high grade Dikilushi copper/silver mine. Red Back Mining had just two mines; Chirano in Ghana and Tasiast in Mauritania. That company was taken over by Kinross Gold Corporation for USD $6 billion. Shanta Gold have the New Luika Gold Mine in southwest Tanzania and their CEO, Eric Zurin states in his most recent interview (see link below) that he's "long on Tanzania and he believes in it". Knowing him as I do, he is not talking out of turn.