Ann: Supplementary Prospectus, page-61

Hi Balduran, many companies have argued against it...Opposed it...! Now it appears to be set in stone, and so it should be Imo...16% free carry still leaves 84% for the investor of project...Different arrangements will be required depending on the level of required infrastructure provided by the GOT...

Below funded by shareholders and directors ...First mover advantage.

To reiterate the answer to your question...Answer..!

Clyde & Co are acting for Lindi Jumbo.

The company has worked closely with GOT for a number of years. The economic impact of these changes for LJ are not really significant. Process wise there may be new requirements, though. They are in negotiations with the GoT and have been from the beginning of the new regulations. As always, it doesn’t impact our ability to go into production & make sales. The significant economic impact is now FCI applies to downstream in Tanzania.Some other Graphite companies will be significantly impacted by the beneficiation that occurs in Tanzania.Lindi was the first to acquire a mining license under the new regulations...The DFS and funding were based on 16% free carry interest all along...This will significantly affect subpar projects with lower grades and higher CAPEX.

IMO your Quote: Operations with quality deposits, such as Lindi and Epanko, should be able to comfortably accommodate it. (Is wrong...) Please see the next post for reasoning...

Unlikely the GOT will provide funds directly to a project...



Regards Croc