Ann: Annual Report to shareholders, page-2

This is pretty Sad,

We have had many of the bulls quote this line from the QTR report

• successful external structuring of stringent loan security requirements.

All WKT has done is secured Mortgage Insurance for the bank to commence its 4 levels of DD.


Funding & Market Update

Lindi Jumbo Limited, is currently navigating in-house corporate approvals with a large Tanzanian based commercial bank. In response to the strict security requirements for the loan, Walkabout sought to secure suitable credit insurance in line with the bank requirements. After undergoing insurance creditworthiness due diligence, Phoenix Insurance, a Tanzanian insurance provider has provided terms for credit risk insurance for the mining project loan.

Following the resolution of this hurdle, the bank is now progressing the loan application through four levels of internal approvals. The Company remains confident that this avenue of funding is the correct one and is hopeful that the approvals process is finalised shortly