'Permitting– We see the key risk now facing Kibaran to be permitting of Epanko,
which is a key risk for any resources project. In our view the main consideration
here will be in the timeframe, rather than on whether the project will be
permitted or not. Permitting timeframes do commonly blow out. The risk is in
part mitigated through Tanzania having a proven legal framework for mining
projects, and the relatively low sovereign risk in Tanzania'
I believe we are already seeing this with respect to our JV with Richmonds and STAMICO..
Ann: Research Coverage on Kibaran, page-3
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