Tanzanian Mining Commission Formation, page-133

The Mining Commission was appointed on 17 April 2018, so almost one month ago now. I wouldn’t say it was “record time” if the issuance of licences and the endorsement of projects (by the commission) was to commence now.

From the announcement back on the 24th April:-

Grant Pierce, Project Director met with the Minister of Minerals, Honourable Ms Angellah Kairuki (MP) in Dodoma on Wednesday 18 April. The meeting provided an opportunity for an open and constructive discussion on various aspects of the legislation that presented challenges for the debt financing of the Project. The Minister confirmed the Government’s support for Epanko and her wish to see it commence as soon as possible.

Kibaran will now meet with the newly appointed Mining Commission to present its development strategy for the Project.

The Minister for Minerals wants to see Epanko “commence as soon as possible”. Kibaran is now set to meet with the Mining Commission. The Company has stated that “the Project development plans are consistent with the standards required by the new legislation...”. All of this tells me that we are well-positioned to present our project to the commission for their endorsement. I am yet to see anyone provide any information that suggests otherwise.

The wheels are finally turning in Tanzania. I think investors have good reason to be optimistic. As always time will tell.