Ann: Yibin Tianyi Placement and Offtake Agreement Update, page-9

So we are clear what this statement means from the Ann:
"Yibin Tianyi’slithium chemical plant is targeting production of up to 25,000 tonnes of lithium hydroxide per annum. Staged expansion plans are in place to further increase lithium hydroxide production to approximately 100,000 tonnes per annum, making Yibin Tianyi’s plant one of the largest hydroxide suppliers in China."

1. 25,000 tpa hydroxide is equivalent to 162,500 tonnes of 6% grade spodumene at a 90% recovery rate at the converter stage (which translates to 0.8 mtpa ore feed facility at minesite assuming 80% recovery and 1.5% li20 with floatation at 80% recovery rate - but at 60% recovery rate, DMS only, ore feed facility is 1.072 mtpa per annum). Reason for this conversion - obviously Tianyi's start up needs means AVZ needs to find other customers to be able to start up with a 2mtpa - 3mtpa ore feed facility in 2021/22). Lets hope some of these other foundation customers are non-Chinese.

2. 100,000 tpa hydroxide equates to 650,000 tpa 6% grade spodumene (which translates to an ore feed facility of 3.25mtpa at 1.5% Li20 feed input at 80% recovery rate (meaning longer term with other customers we are looking at a plus 5 mtpa ore feed facility at Manono IMO).

Interesting times ahead from this announcement, and speculation. Good to see - steps in the right direction to securing Offtakes and funding (including equity for Offtake Agreements I presume)

All IMO