Ann: Globe signs pre-development funding Term Sheet for Kanyika, page-8

@Capped02

"If GBE is keeping to there timelines l would assume that the resettlement plan is either being negotiated presently or beginning of Q1’25."

Hi

The announcement confirms what I said a few days ago as one of my concerns. The affected people have not moved nor are they in the process of moving.

The resettlement plan needs to be agreed with the Malawi government, look back on the things that involve them in the past and ask yourself is this likely to happen quickly. The MDA is a good example it took forever and just because a presentation doesnt show slippage doesnt mean they are on track. There is a general election next year as well which may not help matters.

I am still of the opinion at least phase 1 will go to production but not to the schedule in the presentation. The next cab off the rank is working capital as the money from Bo Tan must be pretty much used up now.