Running discussion on SP, page-42535

'Quick question regarding dividends - When do you roughly believe they may start to be paid if all the timelines are met by the company and production begins in 2023?'

Hi,

Not for a good while thereafter I'd expect. Even though the project payback period is expected to be less than 1.5 years post tax from memory (refer to NF's latest comments around inclusion of the 'The Wedge' & optimised DFS), I'd expect surplus cashflow will be used to sure up the balance sheet and to allow self-funding of further growth opportunities. eg. CDL JORC resource & development (2nd mine), additional PLS or Hydroxide facility, logistical upgrades, expansion of Piana Mwanga HEPP etc. etc.

The Li-ion / EV industry is undergoing exponential growth right now (albeit still in its infancy), so from a future supply (of raw materials) perspective it's all hands on deck from now until at least 2028.

Investing in AVZ and other battery metal developers is all about GROWTH at this stage. Think Tesla.

Cheers
Elpha