Ann: Quarterly Activities and Cashflow Report, page-71

Hi Pepper,

I couldn't agree with you more,

If EGR is unlikely to get funding for Epanko or EcoGraf Kwinana, they should follow WKT in the hunt for gold, My advice would be to find a project outside of Tanzania. If the Government cannot sign off on a funding package that has been co-developed with their assistance, you would have to be stupid to start a new exploration project.

According to the companies QTR report, I get the impression we won't need to find a gold project, the lease is soon to be signed for Kwinana and the Engineering, Procurement and Construction EPC contract with GR Engineering is soon to be signed. EGR also hinted that they would announce further offtakes with existing customers, i.e BASF.

Do you think KFW would be a likely funding partner for the remaining 50% for Kwinana ? we already have Thyssenkrupp keen to take 50% of our planned production