Ann: Dubbo Project Improved Execution Strategy and Capital Costs-ALK.AX, page-7

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.Advantages

This modularised staged approach has several advantages for investors, financiers and offtakers:
• It significantly reduces the initial capital spend of the project.
• It provides rapid advancement into production.
• It reduces the overall financial out lay of the full 1Mtpa project.
• It increases the percentage of revenue in the first stage covered by offtake contracts,
memorandums of understanding and letters of intent.
• It allows a smaller commitment by counter parties that can grow with the project.
• It allows the Company to continue to develop and grow the market for its products, once they
are successfully proven in the marketplace.

Luck to all