Ann: Quarterly Activities Report, page-6

Lots to like in our Quarterly as we wait for news from Bank A our Large Tanzanian Commercial Bank and Bank B (Afreximbank).

***While the facility Term Sheet (T.S.) has a number of conditions precedent before it can become binding, the Company notes that this T.S. has already received initial bank approval. Further approvals will be required in conjunction with satisfying outstanding conditions precedent. The Company is currently actively working to satisfy those conditions precedent.***

Further approvals suggest to me some conditions precedent are already satisfied!

***Local drilling contractors with suitable experience and equipment for drilling in the UK have been informed about the planned drill program and can be notified for mobilisation as soon as there is more clarity around the various Covid-19 restrictions in the UK.***

Drill ready. All permits approved!

***According to Benchmark Mineral Intelligence the Benchmark Flake Graphite Price Index has risen 6.2% during the month of December 2020, notably as a result of reduced supply and increased demand. Prices for larger flake have risen by up to 10.5% and have seen up to 11.2% increase year on year.***

6.2% in December alone. Price tensions!

DYOR. NLN.