Ann: QUARTERLY ACTIVITIES REPORT - SEPTEMBER QUARTER 2017, page-13

thanks for publishing the restructuring plan from Aug 2015... I remember the day it was announced and I spent more than a day going through it and I was never the same guy since then

I must admit that it was way beyond what my brain could comprehend and even after going through it once more today I am nowhere near to understand it... but yes, debt restructured to equity and $111m whittled down to $50m is as good as it can get for us.... I guess, we need just that little bit extra in PoCu now and strive to shave off 30-40c per lb of processing cost to be a totally different entity to what we are today... I know it is easier said than done but I think this management should deliver - the underground mining can provide us that and with more efforts in exploration we can somehow turn this around...

something that I have always seen and wondered is how fast the mood and the MC changes once you hit some tailwind ... look at LYC in 2015 and LYC in 2017... MC was in two digit (M) and talks of being shafted were all around... today, it is a billion $ company with its basket price having improved around 100% from 2015.... a new beast with debt under control and production issues sorted and basket price improving by the day...

I am sure AIS can hope for similar results with some tailwind now... fingers crossed