Mr Smith expects to have the SML locked away within three to six...

Mr Smith expects to have the SML locked away within three to six months, or even sooner if possible.
“We are one of the first three SMLs to be reviewed once they start their process and so we’re anticipating the chance to get in there and have the dialogue with them with respect to the business within the next month and hopefully it doesn’t take us that long to come to some agreement,” he said.

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Although the increase in funds is good news for the company, it exchanges some of the company’s debt for the issue of new shares, which could mean dilution for existing shareholders.
“Obviously there’s always a concern when you add more money that you’re going to have some dilution, but the goal here is to basically get the Tanzanian work done and get the project moving in a positive direction,” chief Rocky Smith told *.
“I think when we start to make those things happen then I think the price will make a change.