Ann: Bankable Feasibility Study for Australian Vanadium Project, page-119

people looking at this from todays perspective. I bet 4 years ago, everyone did the same with lithium and CXO.

investors who look ahead in these times, normally are rewarded. everything has risk, this especially does. but if the future is going to be green. I can't see mine sites installing lithium batteries, nor wind turbines and solar still needs something to store power.

avl and vanadium batteries can be moved, shuffled and dropped off to any location. 600 million is a lot. but when the goverment step in and say we need you big companies to be greener, we gonna be living in a world of our own. that's the gamble I'm taking on AVL, the vision is there, the reasons are there.

AVL might not be in that picture but it's a risk I'll take.