Ann: Extension to Voluntary Suspension, page-456

Yes in the hypothetical scenario I was assuming a 100% take out of AVZ’s interests in Dathcom. Should that happen, albeit unlikely, I would expect AVZ to provide a special dividend of around 90 to 95% of the take out price / amount to shareholders leaving $100m in the bank for other opportunities.

This is pure speculation of course, only to answer your question.

Obviously there are multiple possibilities around ownership structures or variations to what we think might happen.

Maybe there is a partial take out where AVZ passively holds say 10% of Dathcom ongoing and thereafter moving on to other opportunities this enjoying some upside in Manono in the future, however these types of outcomes are quite subjective and not the expected end game for AVZ.

Anything can happen course, yet at this stage I have no reason to expect AVZ won’t proceed forward to develop Manono as previously advised in numerous interviews, announcements and so on.

I don’t fully dismiss a left field type of outcome as described earlier, I always semi expect the unexpected, like who would have thought the current dramas would have dominated discussions at this time.

Again, anything can happen.

Cheers BJ