Ann: Projects Update, page-91

Hi Aliasdavejay Full funding will be announced in time.This is a strategy that management have opted for where funding and development will occur in parallel as apposed to sequential funding. An expected capex of around 30 million with some savings possibly still on the table with joint venture engineering savings.

Not all 30 million is required as a share of cost's are being pushed to outsourcing contracts. The plant now is fully funded and J/V eager to fast track as much as possible with plant long lead items already purchased.

Is there any other this far advanced and our relocation plan only involves a few huts.





To summarise not all capex total is required as per parallel fund development strategy and joint venture already provided 7-8 million so the project did not stall. The project is progressing extremely well in spite of the legislative delays being experienced in Tanzania.

Croc