Ann: Diggers & Dealers Presentation, page-70

EAR is basically in no mans land as to what to do given the scope of the current project and changed market conditions.

Perhaps the best thing to do is scale back and go into hibernation to conserve cash until the gold price gets back over USD1300 when sentiment is much stronger and they could raise the funds without heavy shareholder dilution.

In the light of the trend in the USD POG and FS, I took on board the comments here on the day of the announcement and decided there was not enough meat here once share dilution was taken into account. Sold my remaining shares on the day at 19 cents for a 6 cent/share loss. I was also cleaning out/selling down other goldies over several weeks because the gold chart looked bad. Still holding around 20% in goldies (a very useful sum) and have no idea if I will hold or fold my remaining goldies.

I just can not see the USD POG heading over 1300 this year and am expecting a worse sell down in the December period due to 2 expected Fed rate hikes in 2018, Trumps policies and and weak end of year tax loss selling period in the US. Will look more closely at goldies in December when fundies may do some useful puking and bring down the share price of our better local goldies to good value levels.

It is best to wait and see what the CR is before buying EAR shares, if one still likes the project - I do like it for the first 3.7 years, but the rest is nonsense unless the AUD POG gets to 2000 which is a possibility, or they are very successful with the drill.

GLA

loki (gold/goldies=pleasure/boredom/pain depending on the seasons and/or the reasons.)