Ann: Investor presentation, page-283

A reasonable question Hotdog

I suspect that the current price drop on relatively low volume is more a function of the current market for small stocks with possibly the fact that we are getting close to 31/3 with no announcement impacting to a degree also.

Some investors clearly see value in the current price as there are sales going through. Given my knowledge of the current risks and my current exposure I am not contemplating purchasing any shares at current prices.

Perhaps buyers are punting on the fact that no withdrawal by LGE has occurred so they think a positive resolution to the negotiations is possible.

Nothing has really changed in terms of AUZ - Shareholders are still waiting to see if anything will be announced by the end of March i.e. negotiations ceased, negotiations successful or negotiations still underway. All 3 are likely to have differing impacts on the share price.

Logically:

Negotiations ceased - the greatest impact on the share price - could be as low as 1 or 2 cents though I think most shareholders would be assessing what is proposed next by the company. (I had a company which had a disastrous outcome on a project - management changed and 2 years later they have what looks like a very viable project in a completely different resource - I stayed in as they had cash to keep going and develop something else which AUZ has at the moment)

Negotiations Extended - The impact will depend on the content of any extension announcement - but possibly at least a drop into the low / mid 2s

Negotiations successful - Very much depends on what any agreement contains - I think there would be a upturn in the share price but by how much really depends on what was successfully negotiated.All any of us can do is speculate at the moment in the total absence of any new information

Ultimately the market will decide what happens to the share price - I doubt it will go to zero - AUZ have other projects and after the CR quite a bit of cash.