Ann: EU Explores Support for Epanko Development, page-6

@Names little

I do take positives from this boring announcement from AS.

1. There was no refusal.

2. It's still progressing through the German government system with due diligence taking its usual slow German pace in our opinion, because we are not privey to discussions.

3. What i liked about the announcement was that - The company has been given additional options for eg:

"The Company has received a positive UFK Preliminary Review Decision from the German Government Inter-Ministerial Committee and completion of various technical programs is well advanced to support lender due diligence processes and the commissioning of the Independent Expertise.

"In addition to the German UFK debt financing arrangements for Epanko, the EU outlined to the Company it is considering broader support programmes to the critical mineral sector in Tanzania which can support EcoGraf’s developments, with potential funding in the following areas:

• financing support for the Company’s planned midstream mechanical shaping facility near Ifakara;

• upgrade and expansion of transport infrastructure from Mahenge to Ifakara and from Kidatu to Mikumi to complete the road corridor to port, improving safety, efficiency and reducing logistics costs;"

FOR me, this is extremely important as the EU it states "is considering broader support programmes to the critical minerals sector that can support EcoGraf’s developments with potential funding"...

Because it means little or NO dilition to shareholders and that MUST BE SEEN AS A MASSIVE POSITIVE and no capital raisings because "the EU is looking to support (that the EU is looking at funding these works, not EGR) the critical minerals sector in Tanzania which can support ECOGRAF".

If this is so, this announcement means to me that the EU is looking to 'complete road and other infrastructure' and 'the mid stream shaping facility near Ifakara'.

So that is a very big positive.