Ann: JWD Resource Update , page-53

Hi Davo.

I hold a good amount of oppies but not enough. My plan is to hold them until expiry date and then convert them. I seen them as very cheap leverage to the heads, and by the time they expire I expect the heads to be between $3-5. So they will be trading at circa $2.60-$4.60 each.

Considering that Mick Wilson increased his position in the last month by 2.95m heads and Gary Lyons by 2,175m heads and these guys know more about our tenement than anyone else alive, I’m pretty comfortable that they and I will get rich just off our GWR positions.

Am hoping to see the insto buyers return next week

Happy weekend gang.

10x