Ann: Market Update - 4 September 2020, page-11

Ok, no bites...here is why I am confident we will get this across the line.

1. SA have this in the national development plan-to open the Waterberg Area. They need the jobs.
2. Call me naive, but this is an international company with shareholders both in and out of the country, SA are not going to jeopardise international relations. Its just not worth it if this goes down...
3. Because the major shareholders are the funders, are want it to succeed!
4. the international coal is sold prior to removing from the ground for 40 years
5. The domestic coal is Noble's responsibility.
6. This announcement stated RES re-worked the figures, we have a new CFO that started in JUNE, and I'm sure he is not signing off in his first major role on a matter that is inaccurate. i.e. he would have had to review everything. This to me, is much better than reading a third party has assessed it... i.e. What does BDO care?? I'm not a fan of the BDO work...

Anyone else with thoughts?