The major problem was the requirement for a local Tanzanian bank to be used - my understanding is that assurances have been received that it is no longer necessary and that foreign banks accounts can be used. Nonetheless there is still a process underway where the GOT and it's officials are dotting the i's and crossing the t's on the final regulation/law changes. The environment is sufficiently positive for Kfw to resume the final process for debt funding and it should be ready in 8 to 12 weeks.
There are no guarantees but I'm excited that we are on a cusp of a rerate based on Epanko alone. I also anticipate the updated FS on Ecograf within weeks or months together with one or more equity partners being revealed.
KNL Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
