Ann: Gold & copper subsidiary secures $5 million investment, page-68

I wasn't at the EGM..but I do believe that these is an understandable misunderstanding.
A) Consider if you as an AUZ shareholder were offered shares for free..in this scenario, the AUZ value of shares that you hold would be excluding any stake in the new company, and you would get free shares in the new company.
B) In the current scenario, your AUZ shares includes 30% value in the new company (without getting any free shares separately).

So essentially all is the same as promised..(it is just presented in a different way and maybe difficult initially to understand)
The only difference is that AUZ has to forgo 70% of its stake so that these assets can actually be developed without any CRs (Funding for these assets was impossible anyway in the current scenario)..so this is a good outcome IMO