Ann: Appendix 3Y Change of Director's Interest Notice, page-11

Actually been selling out a bit this week of many of my producers. Good trades in NST, NCM, SBM recently but sold all now. Important to be cautious right now. Last year taught me to go with my gut and protect my profits when I thought it was necessary. Those three were all in my super fund so not looking to make life changing returns but 20% in a few weeks is nothing to be sneezed at.

RSG I have sold down also. Very cautious of upcoming RSG quarterly being high cost and big cash burn. Perhaps underestimated on the RSG threads.

AQG I think is the best value mid-cap gold stock at present with a production uplift coming. SLR is cheap so still hold.

Aside from those my portfolio is mainly developers being GCY, CMM, DCN, WAF and CDV. Thankfully the first two have done very well in the last week. Still waiting for WAF and CDV to move. They are standout projects in the sector and when the inevitable takeover offers happen they will attract a premium in my view.