Ann: Expedited completion of US$240M investment with CATH, page-124

Clearly shows CATL/CATH's fervour to ensure they retain a major stake in this project, that will be delivering huge amounts of resource over the coming decades. I imagine they wouldn't want to have risked losing access (e.g. to American interlopers) should the CPs not have been met and AVZ potentially looking towards other suitors rather than another extension of terms.

Further, the discussions between FT and the head of CATL the other day likely provided them with the certainty to move forward, amidst the discussion on the DRCs wider battery plans, and how the Chinese companies may be expected to support in this area for (hopefully) mutual gain. Surely the timing of this announcement wasn't coincidental, so close after this high level communication.

After the initial solid open, the market reaction wasn't as favourable as perhaps desired, particularly on a green day, only clawing back what we lost just the previous day on no news. However, that's AVZ for you, and was perhaps linked in part to confirmation of a drop to 51% without word on the ML or a potential 15% uplift from DRC. In any case, for me this announcement has much larger long term implications than the short term SP indicators would suggest. Importantly, it not only secures considerable funding, but access to experienced sectoral players and those with the right connections and know-how who can be counted on to push forward development, even if only for their own ends.

Will be interesting to watch with you all what comes next!