Ann: Corporate Presentation, page-86

Understood and agree that is what generally you would expect in FID, and that is also what I would be expecting as well even in a JV structure. Nonetheless, I am mindful that the project is in Dathcom, a JV entity meaning FID would need to be an agreement between all 3 entities in that JV. I certainly agree that if AVZ is able to get funding for the full project then FID would be as I expect FID to be at the time of FID (i.e. a decision to proceed with funding already secured). If it is a combination of equity for Offtakes plus funding for the full project I also agree FID will be as one would expect FID to be.

But if AVZ is only able to secure partial funding then the other two players in Dathcom, noting one is the DRC government, may (not sure hence whyI use may) also need to come to their own separate FID decision to fund, possibly, and below explains what I mean by the term possibly. That is how I have been thinking about FID btw.

What I would be expecting at FID is AVZ securing 100% funding either by full debt funding or by a combination of debt/equity for Offtakes that covers the full project costs (so that you don't have any issues in the JV itself around financing their own shares of construction). This is what I would be expecting at FID but I have noted comments on this forum also that Dathomir and DRC govt will be required to fund their own share of construction, and if that is the case they would also need to come to a decision as well depending on how the contractual terms of the JV is structured for Roche in Dathcom - the term possibly I used in the context is does FID in this context need to be agreed by all three players separately where each party has to stump own funding if full funding is not assured - if so then IMO may need all three to agree and, as I said, I would expect no delays if AVZ is able to get 100% funding for the project at FID. The article below explains in part what I mean:
https://www.offshore-energy.biz/when-is-a-final-investment-decision-fid-not-a-fid/

I am mindful Roche is in Dathcom is my point, so FID has to be for Dathcom itself, and at this stage I haven't cited anything on this forum or on the net itself on how Dathcom actually operates in decision making.

I am been a little more conservative as usual, until told otherwise by AVZ is my point.

All IMO