Ann: December Quarterly Report and Appendix 5B, page-7

There seems to be a bit of over exuberance with recent posts, particularly when it comes to expectations for the Barrick agreement.

The draft Barrick agreement has disappeared into the Tanzanian Attorney General's Office for a number of months. Which does not bode well. Most recent reports are that the Tanzanian Government is seeking to re-open and negotiate afresh the agreement, with one report hinting that a senior Tanzanian officials have called the Barrick agreement "defective and not nationalist enough". Amendments to current legislation are required to enable the Barrick deal to be ratified, as the deal does not meet legislative requirements

The nationalists would seem to be causing some challenges in the lead up to elections later this year so there remains a high level of uncertainty.

If the SML is not granted before May this year there is every chance that the SML will sit on the benches for another 12 months as Tanzania works through its electoral cycle.

It may be sometime yet, or maybe good sense will prevail and good news is just around the corner. But don't count on it.