Ann: Response to ASX Price and Volume Query, page-15

I would say fair valued. You know these days getting something at fair value is a bargain IMO. EHX has option not to go ahead with the project after 1st stage if they don't like it. And we will still have approx $3-4 million cash after paying for 1st Round drilling payment. Don't think it will be the case and hoping that we will be able to mine in Peru. On the other hand Eloro won't have any cash as far I Know (Need to check properly).

IMO, I have a feeling that once we get good result from 1st drilling our co will do CR (That's why maybe we got 10% Capital issue approval in the meeting) and get some more projects. Michael O’Keefe has good connection in the industry (May be Lithium; he is good at getting things at bargain and selling things at good value ;from the past record . These are all my opinion and I don't have any solid fact to prove. So DYOR.

As far my understanding stocks are tightly held and that's why trade volume is low. However, I have a feeling some big players are playing and accumulating.
Everyone knows Michael O’Keefe Effect. This guy is a game changer. Big players know what he is capable of. He himself holding more than 12% stocks and 13% if options are exercised.
FYI: O’Keefe is currently Executive Chairman of the ~$375 million capped Champion Iron Limited (ASX: CIA). It will be listed ASX 300 soon.

EHX would be hoping for a similar growth in market like CIA in the near future. O’Keefe was also Executive Chairman of Riversdale Mining Limited, before it was acquired by Rio Tinto in 2011 for $3.7 billion. From 1995 to 2004 he was Managing Director of Glencore Australia Ltd.