Ann: Consolidation/Split - AZI, page-121

The consolidation has nothing to do with the latest fall in share price. Obviously the market is disappointed with the latest released sample results with drill results over relatively narrow intervals and mediocre grades. I would not attach too much attention to the channel sample results which are not random but selected on the basis of the degree of sulphide mineralisation in the side wall. The drill results considerably narrowed the Ponente West mineralisation width from 10 m earlier to just a couple. The results have tempered my expectations about the updated MRE. With the north-south trend in the mineralising control AZI should site their holes accordingly. Reverting back to consolidation, had it not taken place the price would now have fluctuated been A$0.004 - A$0.005.