Ann: Purchase 100% Byro / Placement / Appendix 3B, page-2

re: Ann: Purchase 100% Byro / Placement / App... Well! That wasn't quite what I expected.

Capital Raising, but not the buy out of the out standing 20% of the Byro Project for $1 million plus 300,000 shares. The dilution is too bad either.

It could be argued that the price values Byro at just over $5 million. However, I think that this will be seen as a steal. Obviously McMillen doesn't follow HotCopper and didn't see my post about the resource potential of Byro. Jokes aside,I've asked some of my contacts in Perth about McMillen and he clearly needs the money now.

It my mind this puts AHN well ahead of IFE, which only has 20% of the Wilcherry Hill with TRF effectively controlling 70%.

There was not great advantage to AHN in putting out JORC resource until they had 100% of the project. I expect that assuming they don't have the rig lined up already that AHN will be drilling in 6 to 8 weeks with results 4week after that. So, my bet is to expect a resource in 12 to 16 weeks.