Ann: Trading Halt, page-9

Hi Guys,

I understand the offer is extremely sought after. I have placed a large request but doubt it will be filled.

ASL (and FFM) are using the funds wisely and understand that time is also a cost to shareholders. Shareholders will be rewarded via the arb between the cost of discovery per oz and the value that the market will ascribe per oz. The ground is obviously very rich and ASL just needs to find it all.

As per GTWO (and a lot of other explorers / developers) the discovery cost vs. market value per oz is nearly an order-of-magnitude difference (e.g. for GTWO which is gold, discovery cost is c. $11 oz whilst the market is valuing it at $90 oz). Same principle for ASL.

FWIW, every quant service I have is showing silver is in a bull market and it is possible that it's entering an acceleration phase akin to 2010-2011 (very similar momentum analogue). Under those conditions, shareholders will be rewarded with an aggressive and astute management team expanding the R&R quickly and getting this project [back] into production.

Cheers
John