Ann: AGREEMENT TO ACQUIRE MAJOR LITHIUM RESOURCE IN NEVADA, page-18

It seems clear from the document that the consolidation will be 200 ANL shares to 1

Performance Rights holder No. of Performance Rights held
Pre-Consolidation basis - Post-Consolidation basis
Mr Conrad Karageorge (and/or his nominee(s)) 650,000,000 3,250,000
Mr Peter Huljich (and/or his nominee(s)) 650,000,000 3,250,000
Mr John Campbell Smyth (and/or his nominee(s)) 650,000,000 3,250,000
Mr James Bahen (and/or his nominee(s)) 200,000,000 1,000,000