Ann: Quarterly Activities Report and Appendix 5B, page-3

So let me see: The Timis mining royalty payment has been delayed due to (in part) a derailment on the rail line.

I thought that the former London Mining, now Timis Mining, trucked to a barge loading facility up the river somewhere for transhipping to larger vessels off shore and African Minerals had the rail line from their Tonkolli operations to Pepel where they loaded vessels direct. If this is true (and I may be wrong) then how is a derailment on the African Minerals rail line affecting production from the Timis Mining operation.

Is this just smoke and mirrors or has CFE’s reporting now crossed the line into the realm of lies and bullshit???

On a positive note as Sagey isn’t allowed to pay his soccer team secretly through the Cape Lambert books anymore there will most likely be a reduction in outwards cashflow over the next few months.

Please DYOR, (I have done mine and I don’t like what I am seeing)


PP