Ann: Appendix 3B, page-18

Good Presso - but no financial info - so its only good to give punters a broad outline.

The reduced Capex, Opex and increased NPV should (one would hope) get the punters off their derrieres and get out their cheque books!

The high capex in the original Feasibility Studies made it look all too hard - but a lower number and a JV partner will make it seem a whole lot better.

Underground high grade should be very low cost, extend mine life and further enhance the NPV.

Company has indicated that they will be working on a development decision in Q3 2019 - so the Board, management and Ibaera must all be pretty confident about the new numbers.

Given that Ibaera is a Private Equity group, one must also expect that they will look to sell their stake for a multiple of the investment.

None of this can be bad for AZM.

Nice bit of buying in AZM yesterday in a sloppy market is another positive sign.

GLTA