Ann: Investor Presentation, page-82

BJ, you sound like an old head on young shoulders, which is bullshit, so you must be an old head on old shoulders IMO. Maybe you have been here before or maybe not, we shall see.

I do agree with some of your comments, I've reluctantly purchased recently or to be frank, doubled my holding due to some of the same reasons you have mentioned.

It's all a risk, but I'd rather loose the "insurance bet" (as I call it) as well as my original investment than let the chance to average down pass me by when the assets and potential on hand for ANW are not inconsequential.

I have a number of examples and been here before, one being ADV, I sold at bottom and did my nuts and sure enough, some time later, my original buy price has now doubled, meaning I would have doubled my $150k today, and those duckers had very little assets of any value 1.5 years ago.

On this one example (and I have many, this is not my only one to base a decision on) re potential resurrection and improvement of the SP was in a timeframe that I could have lived with. All in hindsight of course which is a bloody wonderful thing which some posters take pleasure in exploiting !! and forgetting. We are all duck'en geniuses looking backward, however looking forward, no so much, I think.

IMO the currently assets held by ANW are undervalued and certainly unrealised and the new acquisitions may potentially culminate to improve the SP in due course. Not a wind up as some have screamed (maybe they are buying too??) is coming sometime soon, maybe because they are no longer a holder and just want to reinforce their decision to sell (at a loss of course in the past), rather than bottom draw ANW or average down, well, you know who you are. Whether you are buying or just pissed off, hey shit happens.

IMO, while DGR is a going concern and are a shareholder, the arrogance and pride of some of the ANW and DGR BOD will ensure ANW has legs, I think said personalities involved are well know to many of us and they would not allow a failure to be bestowed on them, under their watch. (well thats my theory, it of course could be wrong) but if I am wrong, I'll live with it.

I sign off in saying, these current steps forward by ANW if completed under the current terms and conditions, should result in due course in a change of BOD members and IMO, the executive management in time, thank duck for that !!

I do not think ANW will go long term with current BOD and Management IMO, this is what makes me happy to average down.

So, welcome board the ANW steam train or snail train BJ, we shall see, at least we have the right sort of coal to make good dollars one day, prospective gold tenements, and god knows, a decent potential Tin mine, all assets could do well in the hands of the right management !!

Still can't believe these duckers, ducked up Tassie. One day PW was like "Ah, don't worry, we are so close" and thereafter we are all waiting for news of decent sale of Tin, and then, "oh dear, all the equipment has broken down and the grade is not good enough, we closing the gates".

You duckers !!! so angry !!!!!!

Happy Days M