Ann: Tanzanian Update on Nachu Graphite Project, page-165

Robbo maybe the regulations regarding the ban are still coming. The KNL ann yesterday mentioned that there are further regulations to come.

The Minister indicated at the meeting that further Regulations are being prepared that clarify aspects of the legislation that weren’t covered in the recent Regulations and to take into consideration feedback from stakeholders.

Now what if the GOT has mentioned to Magnis in the meetings they have obviously had that this will be the case. Like I said Magnis has not had to retract that statement so as far as we can tell it is 100% accurate. Now what did the stakeholders say? Imo there is only one stakeholder that counts. The one who got the processing into the SEZ.

You need to take in what point 5 states before you can understand why point 6 was included.

5. During the various phases of development of Nachu, the Company management conducted several studies looking at the viability of the export of graphite concentrate. Particular attention was focused on what impact would be on the flake graphite market if several other large scale graphite projects commenced operation. Magnis’ view was that the potential lower revenue pricing in the market would make any strategy or operation reliant on solely producing graphite concentrate would not be a financially sensible option.

Now if you consider both points you can see Magnis is the only one that will succeed in Tanzania imo. Damn that battery strategy was a brilliant move.