Ann: Cornerstone investor secured for Manono Project, page-48

What a brilliant result from management..
Some whale watching today

AVZ and CATH have also agreed to evaluate and progress a study to increase annual production, expanding Dense Media Separation (“DMS” production capacity from a 4.5Mtpa throughput producing approximately 0.7 million tonnes of SC6, as contemplated by the Definitive Feasibility Study dated April 2020 (“DFS”, to a 10Mtpa DMS throughput producing approximately 1.6 million tonnes of SC6 (“Expansion Scenario”.

These studies were commenced in early September and are expected to be significantly progressed by AVZ by end of December 2021.

Under the Expansion Scenario, CATH will fund its equity share of the additional Manono Project development capital expenditure and increase its SC6 offtake commitment to approximately 50% of annual production.

The Expansion Scenario will significantly scale the size of the project and further de-risk the fundamental economics of the Manono Project. The parties will also assess the feasibility of developing a lithium hydroxide facility once studies currently underway are completed on this process.
ALL IMO