PULA GROUP

As a way of keeping the investor community, stakeholders, and prospective partners up-to-date on Pula's growth and development, we publish a quarterly newsletter.
This is the 14th edition.
 

Pula Group Quarterly Progress Report

Pula Graphite Project scores Big - 144 Mt equals $162 million Valuation

 

 

 

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In July, Pula initiated the second major drilling exercise on its Ruangwa Graphite Project, in southeast Tanzania. As a result, DMT, a well-established German firm, has been able to update its earlier Competent Persons Report (CPR) on the project. The results firmly place Pula’s project in the top tier of graphite projects around the world, based on rankings released by MINING.COM. The refined resource estimate includes measured, indicated, and inferred resources in excess of 140 million tons. This assessment is based on only 1 ½ zones out of the 5 zones on the tenement, which all show promise of significant reserves.
 
Commenting on the new findings, Pula Chairman Charles Stith said, “We’ve always felt great about the project’s potential.”
 
The new findings confirm that our project is positioned to provide the right partner with a high quality, high volume resource to fill the need for this critical mineral.” With the updated resource estimation, the projects valuation has increased to $162 Million.

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Pula present at AGOA Summit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November 2nd to 4th leaders from across Africa and a high level delegation from the US convened in Johannesburg, South Africa to strategize on getting the African Growth and Opportunity Act (AGOA) extended. The trade pact expires in September 2025. The act provides concessionary terms for trade between America and select countries on the African continent.
 
Commerce Deputy Secretary Don Graves opened the conference voicing the Biden Administration’s unbridled support for the reauthorization of the act. A day before the Summit opened President Biden made it clear that he, “strongly supports the reauthorization of the African Growth and Opportunity Act.” Mr. Graves echoed that sentiment and provided a way forward relative to the extension of AGOA and what comes next.
 

Pula Chairman Ambassador Charles Stith and Pula President Dr. Mimi Stith attended the three-day confab. In addition to their talks with key officials, they were called upon to offer their assessments of the Act and next step issues to be tackled in US-Africa trade relations. Ambassador Stith offered his views in two opinion pieces, one in the Johannesburg Sunday Times and the other in The Citizen, a regional weekly paper published in Tanzania, Kenya, and Uganda (https://www.timeslive.co.za/sunday-times/opinion-and-analysis/opinion/2023-10-29-us-africa-trade-summit-should-focus-on-making-the-most-of-africas-minerals/ )
 
Dr. Stith was featured in an interview on October 3rd  2023, On Newzroom Afrika, DStv Channel 405. (see the link – https://www.youtube.com/watch?v=synYzi1htCE )

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Tanzania Mining Conference Tackles Critical Issues

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Tanzania hosted its annual Mining Conference from 25 to 26 October 2023. In addition, to focusing on issues specific to Tanzania, the conference took on a regional flavor. Malawi Mining Minister Hon. Monica Chang’anamuno was one of the featured speakers at the conference.
 
Pula President Dr. Mimi Stith moderated two panels at the Summit.

The first was “Sustainable Mining & Best Practices Driving the Sector Forward,” which focused on the following sub topics: finance’s pivotal role in the development of a sustainable mining sector, ESG considerations into current and future mining developments in Tanzania, Environmental considerations in the mining sector, Mineral trading best practices: creating a sustainable framework in the global mining sector, what companies are implementing to ensure the ESGs are upheld within their operations, working with the Government of Tanzanian and across the continent to achieve low carbon ambitions: the role of mining companies.Featured on the panel were Eng. Samuel Gwamaka Mafwenga, Director General, National Environmental Management Commission (NEMC), Mr.Silas Olan’g, Africa Energy Transition Advisor, Natural Resource Governance Institute, Mr. Henk Diederichs, Director, Sotta Mining Corporation Limited.

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The second panel was one of the close out conversations at the conference. The panel topic was “Critical Minerals and Rare Earths Powering Green Energy Transition: Technologies, Batteries and Transportation”. The panel focused on: Africa's abundant critical mineral resources and how they can be utilized to decarbonize energy systems and power a clean energy future; investing in science and marine technologies; developing sustainable government regulations and strategies as essential tools to ensure that mining drives sustainable and socio-economic development; and, lastly, working together to harness Africa's resources to achieve the SDGs and Africa 2063. On that panel was Dr. Mussa Daniel Budeba, Chief Executive Officer, Geological Survey of Tanzania, Mr. Michael Lodge, Secretary-General, International Seabed Authority and Mr. Jason Brewer, CEO, Marula Mining.
 
In her opening remarks, Dr. Stith commented, "Tanzania is blessed with critical minerals. The US has a list of thirty-five critical minerals, Canada has thirty-three, Australia has twenty-four. However, you define critical minerals, Tanzania is blessed and the region is blessed. There is no doubt that Tanzania and the region and the continent can be a hub for the clean energy transition. But, what kind of hub? Will it be an example of a hub of mining and development as in Perth or Calgary or California? Or, will it be an extractive hub where people take but never give? ... If the clean energy transition is going to be just, development will matter more than ever."

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Pula mining new opportunities across Africa

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While Pula has a full portfolio of projects in Tanzania, the company’s vision has always been continental. In addition to the four graphite licenses it holds in Tanzania and its gold license in the resource rich Lake Victoria Gold Fields, the company has now set its sights on Mozambique and Malawi.

In mid-November, a Pula technical team went to the two countries. Led by its chief geologist, Yale-trained, Dr. Kenneth Jennings and President Dr. Mimi Stith, the two, along with their technical team, ventured to Mozambique and Malawi to assess areas highly prospective for critical minerals. Both countries show real promise for lithium, rare earth minerals, nickel, and manganese.
 
This mission came after meetings between Pula’s Chairman and President with the Malawi Mining Minister in May 2023 and with Malawi President Lazarus Chakwera. The Pula Group Mozambique was registered in October and the expectation is Pula will establish a presence in Malawi in Q1 2024.
 
In commenting on the recent mission to Mozambique and Malawi, Pula President Dr. Mimi Stith said, “our intention is to position Pula as a one-stop shop to satisfy the need for the critical minerals necessary to fuel the green energy revolution taking place. Given our Chairman’s long standing relationships and credibility across the continent and the outstanding geological team we’ve assembled, we’re well on our way to filling that niche.”

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Pula in the News

For more news articles, click on these links
https://dailynews.co.tz/pula-group-reiterates-commitment-to-green-energy/

https://www.thecitizen.co.tz/tanzania/news/business/pula-group-s-investment-pledge-after-tanzania-entry-3954162

https://www.baystatebanner.com/2022/09/14/charles-stith-mines-opportunity-in-tanzania/

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"Forward Ever, Backward Never"
-Kwame Nkrumah-

"Nothing is impossible. The word itself says"I'm possible"

-Audrey Hepburn-

 

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AMBASSADOR STITH IN THE NEWS

 

The core philosophy of the Pula Group is "doing well while doing good". Good corporate citizenship is in the Pula Group's DNA. Ambassador Stith and the Pula team have been making good on that commitment. Since the COVID-19 outbreak, Ambassador Stith has written extensively about the challenges posed by COVID-19 for Africa and the world.
 

ON SALE:  A View from the Other side: Locked Down in South Africa

Some of the views Ambassador Stith shared in these interviews are covered in more detail in his recently published book - A View from the Other side: Locked Down in South Africa

A View from the Other Side: Locked down in South Africa is now available for sale on Amazon. com and it is one of the most important and influential books of 2020. In it, Ambassador Stith raises and answers some of the most critical questions relating to Africa's recovery from COVID-19.
               

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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This book is now available on Amazon.com and additional websites. It is a must-read as the debate

unfolds about where Africa goes from here in its recovery from the corona crisis.

Please open any of these links to purchase your copy of the book:
Amazon
TakeALot.com
Loot.co.za
Exclusive Books
 

For more information on the Pula Group's Projects
visit our website: https://www.thepulagroup.org
or contact the Pula Group President - Dr. Mary Mildred Stith - mstith@thepulagroup.org

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