Ann: Epanko Special Mining Licence, page-55

AS response to a German Shareholder, reads well:
Aside from the SML, there has been news lately with the technical programme completing before Christmas and now that data is going through final stages before the various end results are ready. On the KfW front there was the progress with the German government backing, which is a major part. Christer continued the company's dialogue with both KfW and the government at Indaba and I can reassure you that both are still progressing well. If you look at similar examples, like Black Rock, SMLs take a long time as they go through a lot of different levels of government, including the ministerial cabinet, but it is doing very well. I'm not in a position to commit to dates, as I'm sure you can understand, given we're publicly listed, and it is items that are partially outside of the company's control.