Ann: Change in substantial holding from IFL, page-11

It has been a while from my last post. But the development of ASL-stockprice in the last months since april is a good reason. Topping at around A$ 2,80 there was a good chance that it was running too fast. So I was ready for some correction. Then we had the buy-out of African JV partner. After carefully studying the the accompanying document from ASL I was of the opinion that it was a good move from ASL for the coming years. They prudently financed part of the buy with new shares so that the leverage in the new balancesheet was oke. Remember that without the buy-out the board of ASL already had given an upbeat prognoses for the 18/19 year. After reading the first quarter results of Barminco I still support the buy-out.

In the proces of the placing of the new shares I was prepared for some selling pressure after the placing. That came, but  now with the SP way below the mid forties (ther price of the new shares) I must say that I bought some more shares today at 1.22. I will not try to explain why the SP is at  1,20 at the moment.  It is what it is . All I can say is read the news around buying Barminco, the situation in the goldmarket at the moment (especially at the drilling-front) and the current performance of the new ASL-company. I did and I am happy with the way it all goes. Don try to read to much in the current SP-level. If you believe in the markets ASL is working in than this is a conservative level to acquire some of the shares. In 1 or 2 years time, I believe, you will have done a good investment. DYOR ofcourse.