Ann: Response to ASX Price and Volume Query, page-6

What you left out most is
52M ounce of contained Ag refer to 10 Aug annual report for detail plus ~100K ton contained lead.
The Ag reserve would give 52M*16.5US$=858M US$; and Ag price could go up I think 20US$ would be a sensible value for the calculation which gives the Ag reserve a valuation ~1 Billion US$

More importantly just this year we hit
we hit something like previously in hole
AKDD181 1.0 m @ 0.08% Pb/Zn, 143 g/tAg & 1065 g/t Au

Very promising in both Ag and gold.

And please remember ALL these contained metals including Ag, Zn, lead, gold only for one project of ARD: Kempfield.

ARD has other promising projects as well such as WESTWYALONG close to a gold mine sold for in July 2015 US$550million;
SUNNY CORNER project has reserve of:

1.5 Mt @ 3.7% Zn, 2.1% Pb,0.39% Cu, 24 g/t Ag and 0.17 g/t Au at a 2.5% combined base metals cutoff grade, for containedmetal as:
§ 55,000 tonnes of zinc;
§ 32,000 tonnes of lead;
§ 5,800 tonnes of copper; and
§ 1.2 million ounces of silver.
MT. DUDLEY project

theInferred category Mineral Resource is 0.89 Mt @ 1.0 g/tfor 28,000 ounces of gold at a cutoff grade of 0.5 g/t gold (JORC Code 2004edition). This resource is open to the North. Whilst theresource is small, it serves as an indication of the potential for additional feedstock within a 10 km radius of the Kempfield Polymetallic Project.

ARD at the moment is way undervalued with so many promising project with proved huge reserve all ready there. I believe that is why some players want in in an urgency.
IMHO​