Not as planned but I can not fault the revised plan for staged...

Not as planned but I can not fault the revised plan for staged funding. To me it looks like there is enough interest in the project as a project but the Tanzanian risk is still too high for many. Interestingly interest is there as the project is de-risked stage by stage. This will apply to any and all mining projects in Tanzania I have to assume. The trepidation is understandable and it will be hardest for the first few projects to push through the reluctant investing sentiment to prove Tanzanian mining segment may not have the perceived risk level. Once a few projects like Lindi successfully get to production others may follow with fewer cold feet moments.

The quick restructuring of the project into stages will present as mentioned a further de-risked project at each stage and I am impressed with response to the feedback that risk is still perceived as too high. I say perceived risk as the real risk is unknown post Tanzanian disruption and is indeed the issue of the great unknown. WKT is at this point the first to attempt construction and as this progresses it may prove to be more difficult or less difficult than the perceived risk building a mine in Tanzania.

For those that wish to say WKT is a massive failure and is a dead project walking you actually need WKT to succeed so the great unknown is then known to remove some of the risk from any other project in Tanzania. Every success makes it easier for the next project.

More hard work ahead of the management team and site staff to get things in place, construction started and reduce the risk.

I still have full confidence as the project risk comes down funding will be forthcoming and Lindi will be a productive mine.