Ann: Shareholder Letter from the Managing Director, page-2

Not before time!
Encouraging letter basically pointing out that the in depth and detailed DFS and all other research, commercial testing and studies are standing up to all that is being thrown at them, particularly with regard to financing to the end that Management believe there is the potential to achieve a superior financing package to that of most peers.

levels of engagement with Tanzanian Government seem place BKT at the front of the queue with respect to remaining resolutions of Tanzanian ownership and approvals matters, in their opinion.

Still no funding which is obviously the make or break issue but looking promising going forward.

FWIW management admitted that they believed they had funding wrapped up last year, but were let down and were wrong in hindsight to have believeď that. We have honest management who do not, imo, over embellish their position and have been hugely competent in the amount of detail and research they have engaged in since John de Vries came on board.
They now believe this will/is paying off.