Ann: Response to ASX Query Letter, page-32

I get you Au, however over the past 12 months they built a team, refurbished a SX plant, drilled about 24km, established 100%reserve mine plan includes grade control, acquired mt oxide and drilling some large intersections of high grade copper. One of them was 12 best in the world last year.

happy to argue about 10% dilution and value given the above.

i think they are doing ok compared to the two other copper juniors AIS is still 50% of its value a year ago and 29M 60% value.

be sure to keep bashing them if it makes you feel better, however the difference in copper sulphate reporting that the asx is bashing them for- really isn’t material