Ann: Metallurgical Test Work Update, page-16

I admire your optimism Benny, however, unless the project has a reliable and viable way to get product to market it's likely that AVZ remains a "tell'em they're dream'n" fairy tail.

its undisputed that they have a great big limp of lithium on their hands...... the company has done little to nothing to show that they have an economic and logistically realistic transport solution to get their product to market.

I suspect the company will try and raise cash on the back of the DFS if they have not already blown through what they have at bank. Unfortunately, the USD850/t price point for spod as they used in the scoping study is so far out of date given current spod 5 pricing is USD550/t and falling.

Added to the declining product price is an expected capex increase, opex increase and reduced recoveries. All of these factors reduce the potential NPV value significantly.

We also have to contend with another potential 15 to 20% dilution as the company limps along and raises more working capital in the hopes of remaining in business until production can start in 2025......

Put this one in the bottom draw until Nigel and Leonard's grubby finger stains have been wiped well-away....