Ann: Lindi Jumbo Project Update, page-648

Did somebody say Lindi is only currently worth the cost of works completed so far?

So a prospecting license with drilling confirming 1M ton of gold and metals is worth nothing because there are no buildings on it?

I don't think it works that way.

*IF* wkt fails to complete the lindi processing plant the bank(s) can still sell it off to somebody who can afford to finish the mine and make use of the resources.
That makes lindi worth a lot more than the cost of works completed so far.


The EY study is going to help put who ever is going to provide the $10M SLBC put their mind at rest that A) lindi should easily be able to make repayments when the mine is producing product, and B) If lindi doesn't complete the mine or is unable to make repayments then they can sell the assets and get their money back.

I am also HOPING that the EY study will also show CRBD that they don't need more than a $10M SLBC and we can just get on with progressively drawing down the loan and building the mine. Might be a bit too much to expect even with the GoT lobbying on our side.

GoT really want lindi to work out. They have invested in roads and power lines to help the mine operations. They get a nice slice of any dividends as does the local community. And a profitable Lindi shows investing in Tanz can be worth while. The bank deal not running smoothly will not be helping the governments marketing for foreign investment.