Ann: Completion of High Resolution Gravity Survey at Weednanna, page-2

Market still underwhelmed, but not surprising. More interest is on the TYX threads still .. which imo is good since AGS, as a major holder, owns c10% of Tyranna. ... The old AGS used to be a traders day dream; not so now ... and with only 104.2m shares on issue (c30% owned by directors), and our share in the Wilcherry JV increasing each quarter (currently 71.09% versus TYX’s 28.81%) I’m now thinking AGS’s consolidation back then was probably a good thing from an investment perspective.

Not known for hyperbole, MD Steve Johnston’s general comment (« the results ...... have exceeded our expectation ») were for me quite encouraging. .. Not to mention the JV’s geography ... so close to Iron Knob, Whyalla etc .. in a state that is definitely pro exploration and development.