Ann: Change of Director's Interest Notice - A Purcell, page-49

I look at it this way. I still have faith in the project, less so on management’s ability to execute. If they were already producing from the upper sheet I wouldn’t have been able to buy more at these levels because it wouldn’t be here. It is frustrating that I didn’t sell some at peaks so my average price is still double current price, but if they execute without diluting the interest too much or diluting future earnings from unfavourable offtake arrangements I am happy enough. I have been lucky I have not had to sell.