Ann: Change of Director's Interest Notice - Michael Naylor, page-10

I feel I needed to reply to your post after you being a strong supporter of Auteco in the past. I understand you may have lost about 50% when you sold your AUT holdings a few months ago, after buying lots at 10.5 cents. Since then you have suggested it will go to 2 cents and continue to down ramp, without real substance. The whole gold explorers market is also down, not just AUT (e.g. look at Nexus Minerals).

You are not unique, as many people (including myself) have seen the SP drop, and yes it hurts, but I cant change that. I suggest, AUT has reached a base SP now as it consolidates and will recover above 10 cents, as we see the whole market recovery. I continue to hold and will accumulate on weaknesses. What is you intention? Down ramping makes no difference in this market.