Govt participation in SYR project, page-2

Names Little, it is interesting that you did not mention that your entire quote is from the TON announcement, and not, as it appears from your presentation, the Mozambique government. This is not a Mozambique government statement at all. With all respect to the company, you can hardly say that they can be seen as an unbiased, disinterested source of such information on future Mozambique government policy. In fact, nowhere in the TON announcement is there ever a statement that the new Mining Act applies to any mining company whose licence was issued prior to the current (new) Mining Act coming into effect. In other words, the new Mining law applies to TON, but the Mining Licence issued to SYR was done so under the terms and conditions associated with the previous Act.

There may be some TON holders who have concerns about the stricter conditions imposed on mining companies by the new Act, (justifiably, in my view) and today's TON announcement may be an attempt to allay those fears, by implying that they will apply to SYR as well. Alas, (for TON holders) nowhere does the announcement actually claim that the new Act is retrospective. What the TON announcement really says is that TON will be no worse off than any other new mining company, operating under the new Act - which is what we would reasonably expect.

Try reading the announcement again. Could there be some "whistling in the wind" going on?

Cheers,

Prime1