Ann: Presentation (Euroz), page-70

Hi Dragon,

Totally understand where you are coming from, no one like endless delays. But i am giving them a pass at this stage, because the team is new, less than 3 months old. Though i agree they could of communicated this better and they must of known well in advance of the delays. But after speaking with Victor, who was more than willing to answer my concerns, i think they are just getting the new team and everything set in place.

In my short investing career, which started in 2011 as a active trader, at the peak of the Gold cycle, i have had many blow ups and lost alot of money from 'on time' DFS which ended up being duds. CCU, Noble Mining, Black Oak too name a few. My latest disaster, was a stock i was an early investor in, and lucky escaped unharmed but lost all my gains. KIN had done their DFS on time and on budget, only to realise their was alot of fatal flaws. They had rushed it only to realise later, too many errors. SP down 85% since.

I could argue BLK and GCY DFS were 'on time' and look at their SPs !! Both hitting new lows. My point is, i prefer to wait and get a DFS that has left no stone unturned and know where my investment stands. But i agree, communication needs to be better.

I am a believer that the AUD gold price will see 2k++ in the next 12months and all Echo has to do, is mine at 1200aisc @ 100kpa, and we will see an outsized gain.. fingers crossed and best of luck.