Ann: Mining Indaba Presentation, page-19

Hi Goldfarm

Let me qualify, I've been a long term supporter and I'm still a shareholder of the company. So not looking to bag the company. If you go back to 2011/12 you'll see where this all started.

I'm only repeating something from a discussion I had with this former senior Resolute mining guy. He told me the power line was only constructed 5 years ago (diesel plant built well before this) and was part some plan by ECOWAS to provide cheaper more reliable power across West Africa. His words not mine, the agreements were on the table and the infrastructure was near finished. The pay back for the project was apparently less than 18 months with costs less than half what they currently pay for diesel generation, but it died around the time of management changes in 2015/16.

I did some homework yesterday and it certainly appears the powerline from the Ivory Coast was completed and ran through a town called Sikasso, very close to Syama. Based on those discussions over a beer, the company's own reports and announcements during that time it would appear they missed on an opportunity to have cheap power at least 4 years back. Just a question - Why?