Ann: Cornerstone investor secured for Manono Project, page-183

Great announcement.

US$240 million cash for 24%. In total contributions of more than US$400 million, subject to final project development costs.

Major funding, backing is a key to development.

Big money follows big projects.

Future is looking bright for Manono project, will be great for DRC.

Biggest high grade resource globally, economies of scale. Very homongenous, at surface, low strip.

Just quality, and rare.

Multi billion NPV $2.3bn USD in March 2020 DFS. Based on $699USD/T SC6.
NPV should be higher based on record 2021 Spod pricing.
BFS will be interesting.

Up and running should go for decades like a Greenbushes.

Mining Licence Collaboration agreement sound very close.

BFS/FID estimated too in coming months. Then build, produce.
Looking forward to value uplift from major producer status.

From the Ann:

AVZ’s Managing Director, Mr. Nigel Ferguson, said: “This is a very significant day for the Company and all of our stakeholders as we move closer to making the Manono Project a leading global producer of lithium products.”

“We are delighted to enter into this deal with someone of the calibre of Mr Pei and CATL both of whom have the financial capacity, technical expertise and credibility within the lithium conversion and lithium-ion battery industry to compliment the world class Manono Project.”

“Our shared strategic vision to develop the vast potential of the Manono Project and further

downstream projects, provide an exciting future for AVZ shareholders.”

“Forging of this partnership compliments AVZ’s excellent collaborative relationship with the

Government of the Democratic Republic of Congo (“DRC” and “DRC Government”) and the local

communities in which we operate”

“We look forward to updating our shareholders in the near future with respect to award of the Mining Licence and execution of the Collaboration Development Agreement, which are progressing extremely well through Government channels.”

“Once this transaction and the associated agreements are finalised, 100% of our saleable lithium

products will be accounted for and a significant portion of the Manono Project will be financed via the equity contributions provided by this transaction.

”This is a major credit to the Board and senior executive team who have all contributed to making the Manono Project a reality.”