Ann: Updated Muga Feasiblity Study, page-14

HFR's ESG Credentials are a source of pride (if not income).

They preclude giving unreported "financial incentives"......[as does the Law].

During the protracted (I feel a migraine coming on at the memory) negotiations for the main licence, the suggestion to go down that route was sometimes voiced at the AGMs. Our Board was always quick to point out the illegality (as does Garini) of that route.....interestingly, HFR would not only be in breach of Spanish Law but also Australian Law not-with-standing that the breach occurred off-shore.

A thing that HFR does is to hold "whole of village" meetings at which a funding commitment for an identified village recreational facility or social cause is given. The amount of the funding is specified in front of the whole village and not just to a susceptible village bureaucrat or politician.

As said, our ESGs are pretty good.....[I think having " good 'ESG' " (Environment Social Governance Factors) is the financial equivalent of being "woke"]

Yours in virtue-signalling-holier-than-thou optimism ....Al Dinga...cheers