Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• New mining legislation in Tanzania.
• Significant and increasing competition for mineral acquisition opportunities.
• Funding risk.
• Commercial risk (market volatility, mineral prices).
• Operational risk (geological formations, accidents).
• Staffing and key personnel risks.
• Speculative nature of mineral exploration and development.
• Political stability in Tanzania.
• Uninsurable risks.
• Foreign investment risks (taxes, royalties, contract renegotiation).

Mitigation Strategies

• Close cooperation with Tanzanian authorities.
• Sufficient due diligence for mineral acquisition opportunities.
• Regular review of cash flow requirements.
• Feasibility analysis prior to development decisions.
• Adequate precautions to minimize operational risks.
• Policies to retain qualified personnel.
• Active monitoring of political and economic conditions in Tanzania.
• Risk assessment and management at Board level.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Governance Achievements

• Adhered to the principles set out in the QCA Corporate Governance Code from September 20, 2018.

Climate Goals & Targets

Environmental Challenges

• Changes in Tanzanian mining legislation and associated mining regulations temporarily suspended completion of the pre-feasibility study at the Imweru gold project.
• Funding risk: The Group currently generates no revenue and relies on equity contributions.
• Commercial risk: The mining industry is competitive, and there's no assurance of a profitable market for discovered minerals.
• Operational risk: Mining operations are subject to hazards such as geological formations, rock falls, and flooding.
• Political stability in Tanzania: Changes in government policies regarding foreign development and ownership of mineral resources could affect the Company's ability to develop projects.
• Foreign investment risks: Changes in taxation, royalties, and contract renegotiation.

Mitigation Strategies

• Completed assessment of the impact of new Tanzanian mining legislation on the Imweru project.
• Continuing engagement with the Tanzanian Ministry of Minerals to determine next steps for Imweru project development.
• Regular review of cash flow requirements to ensure the Group can meet financial obligations.
• Ongoing review of potential acquisition targets and corporate development needs to secure additional funding.
• Careful monitoring and management of the Company’s cash and overheads.
• Actively monitoring the political and economic situation in Tanzania.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Environmental Metrics

Governance Achievements

• Adopted the Quoted Companies Alliance Corporate Governance Code (QCA Code).

Climate Goals & Targets

Environmental Challenges

• Funding constraints
• Competition for mineral acquisition opportunities
• Funding risk
• Commercial risk (market volatility, mineral prices)
• Operational risks (geological hazards)
• Political and economic conditions in Tanzania and South Africa
• Uninsurable risks
• Foreign investment risks (taxes, royalties, contract renegotiation)

Mitigation Strategies

• Discussions with potential project partners
• Joint Venture Agreement (JVA) with Lake Victoria Gold (LVG) for Imweru Gold Project
• Evaluation of new projects to diversify portfolio
• Secured supplementary funding in Q1 2023
• Appointed Beaumont Cornish Limited as new NOMAD
• Fundraise of £150,000 in April 2023
• Regular review of cash flow requirements
• Due diligence on acquisition opportunities
• Feasibility analysis prior to development decisions
• Development and maintenance of appropriate policies for projects
• Active monitoring of political and economic conditions
• Careful management of cash and overheads

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Low carbon energy
• Sustainable mining practices
• Community relations

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed