Ann: 30% CU Intersected in Narrow Sediment Horizon at Wodger, page-66

These are my futher observations.

1. The 3 Ds underwrote the entitlements to the tune of about $141K. That is not an insignificant amount of money, especially in this case - where the 3 Ds are individuals and not acting as brokers. I think that this advice was first announced on 17 May in the Prospectus.




2. The same 3 Ds are privy to internal goings-on, stuff that is not known to the market. In particular in relation to the underwriting commitment, I refer to the ongoing 'competing transactions proposals' initially advised to the market over 2 months ago on 7 April. https://www.aurisminerals.com.au/wp-content/uploads/RNI-07-04-2017-Holding-Statement_Final.pdf. The BoD knows what they are all about, but we don't. Does that sort of activity alone give the 2 Ds the confidence to underwrite? The exploration info for Wodger would be the same to them as to us outsiders, but not the corporate behind-the-scenes stuff.

3. Now we have a surprisingly big oversubscription. It will be interesting to see what the 3 Ds did in relation to applying for shortfall options. That sort of information should soon be available.