Ann: Corporate Presentation September 2018, page-9

For what it’s worth my view on Moy is

- SP is definitely not being manipulated
- currently there is absolutely zero reason for a cap raising - unless they are looking to buy someone close by out.
- an unlikely takeover target (at this stage) - imo they will need to formally increase life of mine before any interest from genuine suitors
- presentation today is not a quasi prospectus

But I am always interested to hear others views.