Ann: London 121 Mining Investment Conference Presentation, page-2

Term Status
1. Payment of US$150,000 on signature ✓
2. TAR to conduct drilling programmes at Mwilu and Kamilombe during a ~6 month DD period ✓
3. On successful completion of DD, payment of US$2M required by TAR ─
4. TAR will fund all exploration to the completion of a BFS within 3 years with 2 additional years if required ─
5. On successful completion of the BFS, TAR will make a pas de porte payment of US$10M for each permit that it wishes to develop ─
6. Final payment of US$20M for each project where TAR discovers resources in the M&I categories exceeding 250kt of contained Co or 1Mt of contained Cu at the conclusion of the BFS

OK I see now why the SP has declined,,, some pretty large commitments ahead , cheers NZT