Ann: Makabingui/Konkoutou Update-BSR.AX, page-2

Hold on! I thought the 21 day period for rejection had ended weeks ago? So effectively, we have weeks yet until we know if it is even accepted??

Below is from 30 May!

With reference to the Makabingui gold project we reported in the March quarterly report that I
met with the Minister of Mines and the Director of Mines on 26 April 2016 and agreed on all
the previously undetermined terms of the Makabingui production permit (including duration,
permit size, duties, taxes, royalties, social contributions). Since then the lawyers have drafted
the production permit incorporating the agreed terms and it has recently been submitted to the
Minister of Mines and to the Director of Mines and his Department.
2
We have been informed the final step is for the Minister of Finance to submit his comments (if
any). If no response comes from the Minister of Finance within 21 days then the Mining Code
states that his response is deemed to be favourable. Subsequently the mining permit can
then be signed by the Minister of Mines. Accordingly, the Directors are confident that the
signing of the permit and the issue of a Presidential Decree, which guarantees stability of the
permit terms for the life of the project, is imminent.