new higher high, page-533

Yes we have all at some point conveyed that message - it is just govt delay and typical of Malawi govt - even GBE stated delay was govt internal delays even though a govt task force was engaged to expedite MDA with haste many months ago.

Little does it help when mines minister publicly states less co-operative commentary via media.

Additional to that we are in need of cash in what appears prior to MDA opposed to what management would have anticipated and in all likelihood had prepared. It will be interesting in the current situation how they will approach capital injection. Last time it was a quick internal small placement style arrangement that was fore shadowed to get through to post MDA - so this time it is unlikely without MDA they will inject cash via a placement to investor/partner - another internal cash injection - leaving a placement at a low premium but equally a low amount of $$ for short term as previously with Bo Tan.

With Doc Albert running around saying we are in control (and rightly so yet unprofessional to discuss such via media) - he/they absolute are aware of GBE financial situation and appear to be trying to delay and leverage to the govt advantage. The closest MDA to be executed rates no mention even though the govt appointed a team to fast track such - he prefers to hone in on projects much further away in relevance to timing of any possible production as opposed to a valuable project that is shovel ready - really difficult to understand such. But that's Malawi.

12 days off a required quarterly report by company. I am sure they would like to have MDA in hand - still may. However it is not going to read well if we do not have MDA and cash issues. At least we will have some sort of clarity and possible new topics to chat about here as we currently sit waiting in the dark like mushrooms feasting on fungus and shite from both company and govt.

Just on the ML that took umpteen years for approval - we did receive a update release prior to granting which of course was welcome - that was different leadership group. Anyway if current management have nothing to advise then one could assume nothing must be progressing and we will receive a similar comment in quarterly stating internal govt delays and company believes all matters are agreed.

Let us not hope it is the establishment of the Malawi Mining Company that has been mooted for 3 years that will hold he stake of govt interest in projects amongst many other objectives. It is now slated for December as they await large financing from Govt to commence operating and no guarantee on that time frame from a govt that is broke and the huge amount of money required to start that Malawi company.

No news is good news as they say however reading articles in latest MM&TR are not giving great confidence. At the end of the day how hard can iy be to look after the early investors of a very prolonged period to a degree and provide approvals - and once the mining industry gets off the ground and new participants arrive then negotiate hard on premium Malawi benefits - terms. Without the early long term investing participants of GBE there would be nothing - or very little - reward them somewhat and everyone get on with so much needed post MDA.