funding requirements, page-3

ourmaninoz, I think you fundamentally misunderstand what ATQ's purpose is.

ATQ is a coal exploration company, with ambitions to become a coal mining company in the very near future. ATQ has no interest in becoming an owner of railway infrastructure in Tanzania, or anywhere else for that matter.

The BFS, which is currently underway, is examining a range of different transport and logistics scenarios for coal export, all of which involve utlising existing transport infrastructure.

Most of these scenarios would involve the Tancoal JV contracting a third party to move the coal from the minesite to its final destination via existing road, rail,barge and port infrastructure.

The road, rail, barge and port infrastructure is already in place and is already being used by other mining companies in the area. If that infrastructure needs to be upgraded, improved or expanded, I would anticipate the Tanzanian Government funding those costs.

ATQ's focus is on developing a mining operation capable of supplying long term supplies of coal to the Ngaka Power Station and to supply coal to export markets. That's it.

ATQ has NO plan to relingusih equity. Nor does ATQ have any plan to fund any part of the cost of developing the power station and/ or the power transmission lines. This will be seperately funded under a project finance deal.

I hope this clarifies the position for you.