Ann: Interim Financial Report - Half Year Ended 31 December 2017, page-13

To keep things in the right perspective, Eckhoff's profit taking amounted closer to $3million. In my view the timing of his appointment to ARD is coincidental and unrelated to his partial sell off at AVZ. That transaction - despite his assurances to the contrary - was probably a strategic move that would accommodate a TO deal in the making, which finally did not eventuate. Around the same time he got meaningfully involved with TAR, that has since consumed most if his time.

It is evident that he is profitably multitasking, however my question had always been why would he ever need full control of a mining company with a relatively small share registry, very low MC
and on stable Australian soil which is out of his mainly African domain ? To implement on it a direction that he could not over there ? Is ARD for keeps ? Is he reconsidering his lifetime moto of buy, prove, sell ?

Admittedly Klaus's actions put ARD on my radar. I am not necessarily an admirer of his tactics, but I am in this case following the money.

ARD needs a firm sense of direction and its four year hovering around the 3c mark makes it statistically promising.

My thoughts only and - in all honesty - reluctantly voiced, as I am relatively green in the stock market and very new here. I cannot possess the insight that LT holders have.

Cheers.