Riverflows, As chuk said, most developing companies include this...

Riverflows, As chuk said, most developing companies include this as standard, Minbos have put this in every year since I’ve been invested.

I’d say the chances of any CR are very slim, at the GM (3 days before end of Q) Lindsay said they had about $12m cash however we’ll find out tomorrow when the cashflow statement is released. Also mentioned at the GM was that most salaries etc are now being paid out of Angola by Soul Rock. I specifically asked about Rob Newbolds salary & Lindsay confirmed HO was not paying it.

Companies usually try to pump their SP before any CR, Minbos has done the exact opposite, no updates, little social media, no interviews or presentations.

That tells me they are very confident with where they are at and a CR is certainly not on the agenda any time soon.

Different subject.

If at least the BAI loan or IDC loan are not finalised by the completion of stage 1 ( May 12 completion contracted ) there is a very good chance stage 2 will be delayed.

As we know end of May we have the Ribbon cutting ceremony with several Government ministers (GM), BAI Chairman (BAI), SWF Chairman (SWF), maybe IDC and at least Lindsay from Minbos.

I wonder how that ceremony will go if everything has stopped.

GM to Lindsay: How come there are no workers here or Machinery etc?

Lindsay: We haven’t received our loans yet to fund stage 2

GM to BAI: I though you approved the loans !!

BAI: Yes they are approved but there is a lot of paper work to do

SWF to BAI: We have invested $10m into this project at 8c a share and you’re telling me it’s stopped because of paperwork ??

BAI: silence

GM: Don’t you know about the Government priority for agricultural loans, the Presidential decree, we are your largest shareholder (thru Sonangol) and you are biting the hand that feeds you !!

SWF: You are screwing with our investment, we might have to consider our accounts with you - lots of Banks in Angola !!

GM: We might have to write a few more regulations for the Banks !!

BAI: walks off on the phone... with tail between legs