Ann: Investor Presentation - Morgans Nickel Day Conference, page-12

· Or this: . 1.3.5.4 FURTHER OBSERVATIONS: Selling into Announcements: Market sentiment can be controlled by ensuring that promising or even strong announcements result in minimal market impact. The brokers responsible for the selling down of announcements are readily identifiable as the brokers who have engaged in forcing Downticks as sellers on days where announcements are released. Such activity, when observed taking place by the same small group of brokers over long periods of time (i.e., 3.5 years), provides empirical evidence regarding attempts to create artificial pricing levels that reflect strategic trading agendas rather than company developments and company fundamentals. News is meant to be a driver of markets, so that consistently counterintuitive responses by the market to good news are in effect a strong indicator of share price manipulation. The selling down of such announcements by institutional interest makes no sense as the developments help to de-risk the project and enhance their investments very substantially. What the selling in response to announcements does do, is to point to a systematic attempt by certain interests to detract from market sentiment wherever possible. In short, share price manipulation.