Ann: Graphex Agrees Funding Package to Fully Fund Chilalo, page-16

hi GeoDrill. I expect the risk is very low that Chilalo won't get the green light from Tz Govt by mid-2019, as GPX has predicted, and have the mine in production ahead of the next general election exactly 2 years away (Tz has elections every 5 yrs).

The current govt's policy is to double GDP contribution from mining from 4.8% to 10% by 2025 (during the next term of govt). If they can't demonstrate that they have got their act together in getting new mining projects into production well ahead of the election, it would be political suicide. The opposition would you think walk in, on the platform that the current govt screwed up our mining industry, vote for us and we'll fix it.

Plus, Castlelake have very good intel in Tz and they wouldn't risk putting their name to a little project like Chilalo - having done all this DD - if they were concerned it was going to blow up on them, as they would look like cowboys, which is not a good look when you manage $14B of other people's money.