Ann: Share Purchase Plan & Minimum Shareholding Buy-Back, page-9

I have some concerns over this offer

I have sent an email to Silver Mines for comment

Hi Silver Mines

I’m a shareholder (125k units) via my SMSF

I’m querying the Share Purchase Plan & Minimum Shareholding Buy-Back

I can’t understand the value in existing shareholders buying into this?

Current Share Price as of today is 0.165c same as offer

There is no incentive other than saving on transactions costs (minimal)

Way things are going, can buy cheaper on market

Adding further dilution to extend feasibility/environment impact statement/exploration works and working capital, seems of little value at moment

With 9.095M in Bank at end of previous quarter and estimated 3.12M for this quarter leaves 5.975M

Take approx. same for next quarter leaves approx. 2.85M + Minimum underwritten amount of 2 Mil leaves only 5.85Mil at best 2 quarters, before next raise

What is plan for next 6-12 months?

Your response would be greatly appreciated

Concerned Shareholder