EGR 2.11% 9.7¢ ecograf limited

'Permitting– We see the key risk now facing Kibaran to be...

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    '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..
 
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