Ann: 2018 Annual General Meeting Presentation, page-25

With respect, does it real matter what Spinks says? He's been positive and confident since the legislation changes were introduced (over 18 months ago) and there has been no tangible progress since.

The optimised downstream DFS was due by end of 2018 but that still hasn't been released. Doesn't Spinks feel some sense of duty to update shareholders when they don't meet their own timeframes?

Take your pick of the ASX Tanz-based graphite hopefuls (GPX, KNL, MNS, VRC, WKT), not a single one of them has been able to secure funding to develop their projects. The fact that no graphite projects in Tanzania are being developed is very alarming. Until I see evidence to the contrary, I'm of the view that Tanzania is not a friendly jurisdiction for foreign mining companies.

I don't know what Grant Pierce is doing to earn his rather significant salary, not a damn thing has happened in Tanzania for a very long time.