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

Anyway personalities aside, sometimes it helps to take the time to read announcements carefully.


We're talking about phase 1 of 4, with each phase targeting different priority areas. Phase 2 is underway and results due soon, followed by phase 3 and 4. Per below:


Considering that ERW is involved with the same exploration team (Newexco) that discovered:

- Golden Swan (Poseidon Nickel)
- Thursday’s Gossan (Stavely Minerals)
- Savannah North (Panoramic Resources)
- Abi Rose (Poseidon Nickel)
- Monty (Sandfire Resources)
- Mallee Bull (Peel Mining)
- Nova (Sirius Resources)
- Spotted Quoll and Flying Fox (Western Areas)

I wouldn't write them off after only phase 1 of 4 EM surveys, which comprises only a small portion of overall priority areas in E63/1941-E63/1771. That seems rather premature.