Market Sensitive Notice, page-89

For those who might be concerned about the AJX short term price action which looks a bit on the soft side - I think it is more to do with external factors, particularly the US market. Right now we are approaching the later December 2015 highs for the Dow and S&P500 and the Russell 2000 (US small caps) after the recent double bottom bounce.

There is a good chance that a decent retrace is going to happen soon and in fact there are signs this past few days that the US indices are rolling over so we might be very close. There has been a lot of press about the potential for the US market to retrace as well so a lot of the punters are likely to be spooked somewhat and cashing up and it is always likely that any pressure will be amplified in the smaller caps. This shows up in the US Russell 2000 which has had a much smaller bullsish bounce compared with the bigger cousins.

It is pretty clear that there is no real buying pressure at the moment or over the last week or two and after the announcement yesterday it was obvious that some saw it as a selling opportunity but again I think it is just about market forces and not too much to do with AJX. Anyway that is my opinion and there could be a bit of a downturn in the offing which might test a few of the nervous holders but personally not worried.

Happy Easter.....