US$90 Million Settlement with TanzaniaHighlights• Tanzania has...

US$90 Million Settlement with Tanzania

Highlights

• Tanzania has agreed to pay a total US$90 million in settlement of the ICSID dispute

• Settlement sum payable by Tanzania in three instalments:

 US$35 million – received from Tanzania
 US$25 million – on or before 25 October 2024
 US$30 million – on or before 30 March 2025

• Settlement sum represents 82.5% of the original amount of the ICSID Award of
US$109 million
• Litigation funding and legal costs to be repaid from first instalment, with funds retained
for annulment and/or arbitral proceedings and enforcement if further instalments are not
paid by Tanzania
• Distribution between the Claimants is currently being negotiated with a further
announcement to be made in due course
• Following completion Indiana anticipates distributions to shareholders as follows:
 First distribution proposed for December 2024
 Second distribution in Q2 2025
• Indiana to immediately advance exploration activities at its Central Gawler Craton
Project, South Australia


A great outcome IMHO - no need to seize assets - money guaranteed