Ann: MOU Signed for Guinea Iron Ore Project, page-70

This Guinea Iron Ore Project is silly at this time, they should hunkering down focusing on coal production just to repay their debts asap while the for some reason by the grace of god moved coal up 3 times in price, they are trying to expand into other areas while they are having problems refinancing their debt being something like 1Mcap to 3Mcap in debt. I do respect their tenacity to want to grow but it's like to Craig debt is nothing it's all ok, keep expanding refinance is a nothing burger. I do like the name of Terracom, reminds me of the type of company names from 80's movies like Weyland-Yutani Corporation.

It's hard to know, with this company, they should be racking lots of money now but I am unsure of their SA coal operations how they are going unless I missed something there, but again I do like how they want to expand and it's possible to grow bigger but it's like growing on a knife edge.