Ann: Appointment of Financial Advisor, page-3

A 'Financial Advisor'.

We cannot know whether the role is simply to ensure the value of GWS is recognised or if this heralds corporate action. The former is welcome; the latter - maybe.

The grizzled MEP BoD have seen (played) almost every permutation in the mining value-add playbook. If a deal emerges, I am very confident of their capacity to deliver value to holders.

Note that the current structure makes an opportunistic takeover difficult and gives ADN the breathing room to develop this brand new business and realise its potential.

A strong opening this morning.

Ash