Ann: Response to ASX Aware Letter , page-39

Despite the assays being reasonably well predicted by the field XRF sampling, the mass herd was fed ample fodder:

"4-5% indicated"
"individual chips up to 15%"

Both fair statements, but rather irrelevant in the context of representative and composite sampling.

And then there was the juicy bit of blue sky -

"due to the moisture content of the sample (XRF analyses) could be understated".

Only the surface needs to be not saturated. What, no sunshine at Wiluna in December? Who would have thought.

So as many are want to do; i.e. read only what sounds like will make money - then ignorant to the caveats, the message is that there is high grade Ni and the assays can only get better. Throw in some extra fodder in the form of ramping from a broker and, viola, a feeding frenzy ensues.

I agree with nine lives post 100%, seen it all before. However in this particular case I do question the motivation of the broker's report before the results announcement rather than afterwards, when a more informed analysis would have been possible. I know enough how these guys operate.