Ann: Owner Mining Commences at Granville, page-44

This is my take on the announcement and unfortunately I take a somewhat contrarian view. I see the majority of the content being the same as the previous ones. Reading through the posts a lot of posters are still speculating on what may or may not be occurring. These are my points:

1. "Liquidators were appointed on the 4th March 2019" - Surely the company would have known the writing was on the wall, that Jemrok were not performing to a satisfactory standard and were being wound-up. What contingencies did ANW management put into place to minimise the disruption to works at the mine?

2. There seems to be a contradiction. Firstly they quote, "progressing the necessary arrangements to commence owner mining at the Granville East mine" then further down in the same paragraph they quote, "Under the owner mining model, waste mining operations have resumed" - Another unclear grey comment,

3. "a decline in productivity in early 2019" - what mine productivity did we have at that stage for it to go into 'decline'?

4. "Ore mining is 'expected' to resume in the coming fortnight". Yep, another 'expected'

5. The famous "General Manager of Operations" will oversee mining operations - isn't that what he's supposed to have been employed to do for the past year or so? Where's he been and what's he been doing? If he's got 40 years experience he should have foreseen the Jemrock demise and got the company to look at contingency planning.

6. The company is 'progressing discussions with a third party' for crushing and ore-haulage services. Yep, another 'progressing', nothing finalised again. That should have been finalised by now. If they're 'progressing' discussions, they'd better get a move on.

7. 'building an inventory of tin concentrate' - well - how much concentrate do you have already? An inventory could be one tonne.

8. Sales within a month. I'll believe it when I see it. The time frames just keep getting pushed out and pushed out. I wonder what excuses they'll come up with next?

In my opinion, if there is no announcement by the 13th April 2019 that tin concentrate has been shipped from Granville East to Traxys then we need to call that EGM and light the fuse. NO more excuses, no more delays.