Ann: Lindi Jumbo Project Update, page-80

Thank you for bringing Jinpeng into the discussion. More on that in a moment.

Wasn’t the announcement during the week quite interesting? The goal posts appear to have changed should one interpret the announcement subjectively….

Questions arising;
- How much is the now revised “initial drawdown”?
- Why is an independent valuation being prepared by EY of Lindi now required ?
- Is the “initial drawdown” suffice to complete the plant and NOT delay completion further?
- What are the (as referred to in the announcement) “there are a number of important steps that need to be completed to enable the issue of the SBLC and the initial drawdown” ?
- This report will be available in the “next few weeks”. As announced. The suspension will most definitely be extended, as suggested.
- Finalisation of the offtakes are “expected” to now occur PRIOR to the debt drawdown. Seems this has now potentially become a milestone condition on the funding. Wonder if these off take partners are holding out until funding is secured ? Could be an interesting milestone to achieve.

Just a few genuine questions….

Back to Jinpeng. Being the No. 1 shareholder Blitz and invested in our fortunes….wouldn’t it be so much easier for WKT to simply issue them $95m shares in lieu of the $20m required? They can be securitised partners in WKT via script. Their confidence in WKT would suggest this may be an answer to our funding dilemna. Just a thought…..