Ann: Quarterly Activities Report, page-594

Hi All,

Please forgive my ignorance, I'm new to the share market and only hold a minor amount in ANW from Q3 2017. I'm learning quite a lot from the regular posters on here so thank you in advance. Every day is a school day it turns out.

I have a question in regards to the tie up between Auburn resources and ANW and if that at all could be the future source of funding required for the Granville and Taronga operations?

It would appear Auburn resources (another DGR daughter company) may go public this year, Auburn resources have exploration tenements in the Calgoa area which is approx. 50km from ANW's Kilkivan exploration area. If Auburn Resources does in fact go public with a fully subscribed ipo, could there be a chance that ANW's Kilkivan assets could be sold/transferred to Auburn Resources from ANW? Could this cash injection allow Granville to become fully operational and self sufficient and the remainder to be used to fund the exploration and construction of Taronga to become operational?

Once Granville is operational and the sales of the tin concentrate follow,  if managed correctly, could ANW look to extend the life of the mine by take over of nearby sources of mine supply from the sales of tin concentrate?

This would allow management to focus on the northern NSW operations and pending approvals, they may possibly have two self sufficient and supported operations running simultaneously possibly by Q2 2020?

Is there a way to work out the potential value of the tenements in the Kilkivan area from the information we have already?

Hope the above makes some sort of sense.