Ann: Change of Director's Interest Notice, page-14

Mike has always been excellent in his technical capabilities.

I attended a luncheon where Bement presented a while ago and i mentally compared the grades and tonnages and was comfortable with backing NwC based on operational progress and direction.

Bill's a great promoter and I wish him all the success but this still made more sense here based on the project metrics.

I believe the NWC team will be very North American facing in terms of promotion moving forwards which makes more sense as ASX isn't giving the love atm.

Overall market is volatile in commodities atm but the end result will be clear in due course based on macro factors and an eventual proper payday.

Having a director pony up in a non black out period was the final point that confirmed this is way undervalued and nothing unforeseen is lurking that justified the sell down the other day.

Still interested in finding out the high volume driver the other day, let's see if holder notices spring up shortly.

Sentiment matters and current commodity sentiment is very skittish, but in that there's opportunity.