Ann: Share Purchase Plan Offer Document, page-71

I don’t believe the assertion in this video that we are at the beginning of another bull market for gold as it doesn’t seem backed by any chart technicals. If anything we are currently in another period where the US$ is shadow pegged to gold. The US$ gold chart has been range bound since the big gold short at the beginning of 2013 sent the price crashing through the low US$1,500 level which was the support level of the last gold bull run. The price has oscillated around the low $US1,200 level which is also the weighted average price the Russians have paid for their gold accumulation since 2006??, coincidence? I don’t think so. Without taking a close look at the charts I don’t think we can technically say we have a new bull market for gold until the price breaks through the previous low US$1,500 level or at least starts trading between the $US 1,360 resistance level and the low US$1,500 level. I think we will see a failed test of the US$ 1400 level in 2019 in response to the deleveraging in the US equity markets and while they find their base, probably after the Trump rally premium gets wiped away. Once the US markets bounce again the gold price will soften a little but stay in a range where it is capable of breaking the critical US$ 1500 level. This rally will coincide with a period of monetary easing that will result as a fall out of the US recession to come (time frame 1-2 years). Finally the real bitcoin style rally in gold will come once the world gets called out on its ballooning and unsustainable global debt to GDP which is currently printing at > 300% (time frame...during the next decade).

Unfortunately for WAF shareholders the benefits of these rallies will be lost IMO as the company will be lost to smarter players as the two-bit players stumble over themselves to accept the low ball offer at a 60% premium. The secret IMO will be to find the next project with excellent and long LOM metrics, even if that involves buying or keeping shares in the acquirer should the offer be based on script. Esh