Ann: Positive Results from Initial Metallurgical Test Work, page-8

This seems to be a step backwards and nowhere near the recoveries anticipated. Granted the Iron oxide content is a positive early result.

Battery Co's prefer a courser grain, 10mm min. The 62% recovery will challenge the previously published NPV and as volumes will be lower and processing costs higher.

it also shows that AVZ is a more similar to PLS and AJM in terms of recoveries than first thought, save for the iron oxide. Perhaps the illusive ramp up experience for AVZ, if they ever get to mining, will be that same......

I really do wonder why management bothers to release early stage partial results...... just get on with it and release the proper met test work as expected.