Ann: Yibin Tianyi Withdraw FIRB Application, page-33

Ok, we'll see if they allow any further Chinese foreign interests in Australian lithium producers.. Given the project is in the DRC, I am seriously struggling how this is against the Australia's national interest. Without sounding blase, suggest AVZ now pursue a European player,i.e its time for the Europeans to show their hand, or if teh project does need Chinese investment and, btw I read the decision as also meaning equity for Offtake Agreements from the Chinese are off the table here, at worst relist on a different stock exchange if need be.

The other thing of note, is Australia has now ensured sovereign risk is coming to Australia given its views on foreign investment (unless of course what they want is Tianyi to have an Australian subsidiary. If in this case we get a European player onboard, then I wonder what message that then sends the Chinese that their investments are not welcome in Australian plays if a European investment is welcome instead (and given China is Australia's largest resource export market) what that will mean for other sectors of the economy (i.e. iron ore for example) as well.

One final thing, how is the Treasurer going to look at CATL's investment in PLS and Ganfeng's over 50% stake in Mt Marion, and even now the plight of the 100% foreign owned Greenbushes mine where one of teh players is seeking to divest a bit of its interests.

If this decision is no more than protecting the Australian lithium industry (ie existing producers and by that I mean allowing Chinese ownership investment in Australian based producers) then AVZ may need to think about relisting elsewhere. Time will tell exactly what is the basis of this decision, and if the decision is actually no more Chinese investment into Australia, welcome to sovereign risk folks who have projects in Australia.

An interesting outcome with wider ramifications IMO. Obviously in terms of AVZ it has thrown a severe spanner into teh works, especially around even equity for Offtake Agreements for AVZ.

All IMO