EcoGraf battery graphite facility on JDAP agenda, page-7

Good Morning Topo.

The majority of it will be bank finance, as you would be aware EGR has been working directly with the Government of Tanzania, The Bank of Tanzania and the German Government bank KFW IPEX to allow foreign lending.

As you would have noticed from the tweets from Mining minister, WKT were trying to secure a Stand By Letter of Credit from a foreign lender (European), which wasn't suitable for their Tanzania lender, I presume this is mainly due to the Tanzania bank laws/restrictions.

If you read through EGR and MNS announcements they have mentioned in their announcements that they expect a suitable outcome to be resolved by the end of the September QTR, which I can only assume will allow foreign funding for these projects.

Anyway, I cannot see Epanko developments starting until we get the confirmation from the GoT and Bank of Tanzania and complete the updates to the BFS. Who knows with the possible expansion to the production capacity of Epanko, we could be after a SML or the project being considered as a special economic zone with the down stream processing to produce spherical graphite in country.

Anyway I am looking forward to the 6th of September, its going to be a fantastic day for EGR shareholder gaining approval for Australia's first PSG facility and they have the funds to commence stage 1 construction, I did read RNU's recent announcement, which detailed they are still yet to locate a suitable site and their graphite mine is still waiting on regulatory approvals, they seem to be around 2 years behind EGR.