Ann: Investor Update - February 2012 , page-3

Two things stand out in mind from the recent raising at 40c:
1... on the last 2 days that trading occurred (Jan 30th and 31st)prior to the halt our SP traded as low as 40c so the raising at 40 c was NOT done at any discount,the sophisticated investors paid up for their shares at the same price you or I could in the days preceding the raising.
2...I thought it both impressive and significant that our directors and their families have put their hands up for $470,000 worth of shares at 40c
Now let's wait for the drill bit to begin to bite and we comfortable in the knowledge that we have very good competent management running this company.There was a lot of talk late last year about the merits of Sipa Resources and their pursuit of a "Nifty" style of target at Thaduna. ENR's results to date are more impressive than what Sipa have managed to come up with and I will remain a happy holder of ENR until management have further pursued the possibilities at Yeneeena,in particular B6,B7 and T4