Ann: Response to ASX Query Letter, page-51

The thing that annoys me is that AVZ put out an announcement a week ago, while Nigel jumped on the front foot and did the right thing it could not have been at a worse moment. We had a 20% gain one day then 15% the next day, then all of the momentum of Klaus leaving got halted.

If the ASX was still going to issue this letter to be responded too anyway then Nigel should have said nothing until he got the letter from the ASX.

While it is frustrating ML is still essential to AVZ. Without him the company may go nowhere. I'm personally loosing plenty ATM. I also realise and i hope you all do, is AVZ is a risk vs Reward Stock. For me I can't see any way a resource of this size does not get mined at some stage, it might be a JV/TO situation, but at this stage I'm still unsure.

There is also risk, and anybody who has been around This forum will know what they are. Management is one of those, There were comments that ML should take Klaus's role, but I don't think so, Michael is salesman, Nigel has also been mentioned, I think he needs to stick to his current role and find us the best possible person for the job.