Ann: Response to ASX Price and Volume Query, page-16

Nick - you have to take into account that Canada's full of Bears and Australia's full of Bull !

There's is no fair value really, it's subjective based on fear - FOMO pushed us up near 20 cents, then fear as we followed the Canadians big drop (for no reason) a couple of weeks ago & now a bit of a sell off presumably due to fear of losing money in the event the pending drill results are negative.

I was in on first day of re-list, sold more than half along the way up, so for me the current price is fair value to buy some back - bought yesterday at 12c & this morning at 11.5c & again today at 11 c.

I wanted more exposure as I'm convinced initial drill results will be good and in time the potential upside could be substantial. I have to admit I like the O'Keefe factor even if that is a bit irrational, but whatever he is involved in makes money - I have more money in CIA than here.

EHX is a gamble ofcourse, just like the Pilbara hopefuls with their watermelon-seed gold nuggets !

My advice - Sell Pilbara, Buy Peru !

.