Ann: Final Phase 2 Results Elevate Dandoko Corridor, page-6

• Mali is a great destination. RSG is there with their foot on a decent holding in OKU.
• Gold M&A
  Bloomberg reports that Barrick and Randgold are in late stage merger talks in Colorado Springs.
• A merger would represent Barrick’s re-commitment to Africa, or at least Mali, Cote d’Ivoire and DRC where Randgold’s mines are.
• It potentially marks increased investment in those regions, and so benefits others such as RSG, PRU, WAF and CDV.
• Investment in African mining has been under pressure due to Barrick’s tax issues in Tanzania, and generally rising costs attributable to lagging infrastructure spending.