Ann: Appendix 3Y Davies, page-4

I increased my holding of more than 200,000 shares this morning. As a long term SH, this is an opportunity to accumulate and wait for another cycle.

With strong financial, development plans on hand and hedged position, there is virtually no danger that this stock will collapse. Although ID is conservative and only interested in his pay cheque, this is also an advantage that this stock is a safe play.

I shall welcome shorters to push SP lower, this will provide more opportunity for us, long term shareholders, to accumulate and benefit from next cycle.