Ann: Response to ASX Query Letter, page-91

Because as I already mentioned , there is no clear or apparent breach in the law IMO, One which in my mind has the effect of misleading or fraudulently misrepresenting any Investor in these 3 companies

Highlighted below in bold are some of the reasons I have come to this conclusion. It is my opinion , we would of been made aware of a move in this direction already. That's not to say it may or may not still happen though :- But given that MTL has been allowed to trade again, I am still of the belief that this is more a ' Witch Hunt ' against Everblu which ultimately is rather unfairly effecting both VIC and HDY and their differing project aspirations. And all this whether they are in fact of Quality or otherwise. So I would ask the question again :- Shouldn't we the investors be allowed to judge this in a fair and transparent market ? ...and in a way that doesn't structurally damage the liquidity and / or the tradability of our invested securities ?

In answer to your penultimate statement. There are many such private transactions which occur in not just our market - but many around the world. The percentage of private companies and various investment(s) , assets etc..... is far more than the combined total of all listed entities. So I would expect these sorts of transactions to occur as frequently as our current business cycle is allowed to function into perpetuity.

In response to your last question and like you , I could only wish so don't be ridiculous. I am only here to make money when this dust cloud settles. And as I have relatively low exposure as compared to many invested here, I will re-assess and defer my decisions as to the averaging my position when the time is more appropriate. At the moment we are purely guessing as to when this will be and how it plays out from here......


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