Ann: Binding Transaction Implementation Deed with SQM, page-16

The scheme meeting is not until late January/February so a lot can happen in the next 3-4 months - like many more drill results that could make the bid price seem to low. The bid still needs FIRB approval.

I guess we will see if other bidders come out and buy shares - possible suitors include Min Resources Gina, IGO, Wesfarmers, etc. quite a few other potential bidders. Remember there are rumours than Gina and Min Res have been buying stakes in AZS.

I feel this may just be the start of the journey to a takeover of AZS!

My own view is the bid is too low to be successful and if we see amazing assay results from TA3 in the next few months I doubt the $3.52 bid will be high enough.