Ann: Change of Director's Interest Notice - Appendix 3Y x 3, page-5

Hi dinkadink, Spec_Hope and all IVRers,

Please note my calculations are not 100% guaranteed, they are taken from last 'Change to Directors' Holdings' and the Coy's 1/2 Yearly report 31 Dec 2017

Yes JA does hold, on my calculations (in total)

=6,202,438 = $ 74,429 at last sale price of shares  -- $0.012 (have a look at what they were 12 -24 months ago for interests sake.)

Looking at the last 1/2 year report :-

--Emplotees Benefits  $ 803,360  (say 182.5 days)   $4,401.97 per day
--Directors Fees $   77,625   ( "    "   )   $ 425.34 per day

I could go further in looking at the Expenditure  list (and I suggest you do-seek out the 1/2 yearly report -quickest way go to ASX.com.au - get to IVR Company reports and look for last 6 mths.... look for the 1/2 yearly report --- under Financials -then see  how your money is spent .....Remember this Coy is an 'Exploration Coy' see how much was  spent on Exploration in relation to 'Employees and all other  'Administration costs'.  Secretarial costs comes quickly to mind .. I think $8/9,000 per month ????

Please remember we are looking at costs for 1-7-17  to 31-12-17.  Only 6 months..... !!!! Also I suggest you take a little time and look at the Annual Report under the Financial Section...get an understanding of how much each of our BoDs are getting -The CEO etc  -- and look all per annum benefits then divide by 365 you get a quick idea of how much per day they get... How do you feel now ???  Also dont forget to look at the 'Benefits'  Super etc...... add that in also.   Good luck --- probably most wont take the time.. But it's your money being spent -- for what ????

Unfortunately most S/holders in 'penny dreadfuls/ Speculative Stocks/ Junior Mining Coys' etc etc  seem only interested in the 'Chance/Dream of ---striking it rich' (yep me too)
But when the Coy's BoD --seem to continually rely upon s/holders to supply the necessary capital for the BoD to spend we should start 'jumping up and down' ' seeking out  where our funds are going..what benefits do s/holders expect to get ... AND POSSIBLY WHEN !!!!!!!!!!!!!!!!!!!!!!!

Are we a 'bottom less  $$$$$$$$$$$$$$$  pit' ?

Have we ever (us s/holders) looked at the qualifications of our leaders -- No !!  Better still - what are their records in business ..CV etc.   Like 'Mr. X' was a Director/CEO/ Etc  of  XYZ Coy --- Ok do some research what did XYZ Coy achieve...  probably SFA. I have been guilty of =complacency. Living on just hope etc.  Well me thinks, from my perspective .. no more I want to know more of what's happening. The old  Why When What is a good start.

Unfortunately as a single s/holder  ones voice, actions are as useless as 'Mammary Glands on a Bull' to coin a phrase. Same as society as a  whole. The masses cannot in most cases organise a thing or be organised.

Me thinks we are being ignored, and not only IVR  .............and don't forget fellow s/holders we are those  that supply  most of the 'folding stuff'. But then ........... read on.

I could rant and rave on .... but I will be expressing my concerns to the Company .. You should all know the Directors' names .. You should all know the Coy's e-mail address... so why not express your concerns -if any- direct to them...

Again -- IMHO  using HC to vent, if you do like I am now, is 'as useless as an ashtray on a motorcycle'. Except it makes one enjoy that 'feel good syndrome'

To all, if I have taken up your time,  I say sorry.

I feel a little better now... so back to the Skull Cave and my very concerned Pygmy Bandar Tribe - also s/holders in, at this current time,  'basket case'  Our time is getting towards '0' in this Coy.

As a useless calculation, did you know that your 1 share is worth appx $1.216517. Based on No shares of Coy -with 45mil ozs silver  at say $Aus 20. ---and taking into consideration not a cent spent to get it out of ground !!!!   Its probably a useless figure BUT it makes you stop and think... our Coy's shares are gotta be worth more than $0.012.  IMHO only.

Keep safe all.

The Phantom GWW

All IMHO  and please DYOR..............................  then if you make a mistake you will know instantly to whom you point the finger.  This will save a heap of disappointment, sorrow and sleepless nights trying to find who to blame. Use a mirror... !