Lots of misinformation being posted here lately, especially re...

Lots of misinformation being posted here lately, especially re the DSO project. Let’s stick to the facts. Here are some relevant reminders about the DSO project from recent and past AEV announcements:

• Testing has confirmed Wonarah Ore to be well suited for the production of battery-grade Phosphoric Acid due to its high grade, physical robustness and large consistent lump sizing.
• High Grade Component of the Wonarah resource suited to DSO is currently measured at 67Mt @ 30.0% P2O5 using a 27% P2O5 Cut off grade.
• Previous disclosures by MAK in 2009 have cited very low impurity levels in the DSO samples (cadmium less than 5ppm, uranium 10 to 15ppm) and that the rock phosphate “mirrors the general specification of the highest quality rock phosphate produced in the world”.
• Potential extensions at a 27% P2O5 cut-off grade are being investigated to support the DSO opportunity.
• Drill intersections not included in current MRE include [email protected]% P2O5 and [email protected]% P2O5.
• Current study targeting 600kt pa however previous studies have shown potential to reach up to 3Mt pa within about five years from commencement with a mine life of 40 years - highlighting that this is a monster resource.
• Previous studies have also shown that conventional shallow open pit and strip-mining methods can be used, minimising operating costs. For example, the depth to the Arruwurra deposit ranges from 10 to 15 m at its shallowest point to 25 to 30 m at its deepest point.
• Northern Territory Government has granted Avenira two Mineral Leases, ML33343 and ML33344, for the Wonarah Phosphate Deposit, a key milestone towards the commencement of mining at Wonarah.
• Marketing samples have been successfully shipped and are being laboratory tested by interested regional Phosphoric Acid customers.
• These samples have been independently verified to contain an abnormally high phosphorous content which paired with the physical robustness of the phosphate ore makes it uniquely suited for thermal processing and the production of high-purity Battery Grade Phosphoric Acid (since retracted due to ASX guidelines but we get the hint).
• Prices for high grade Phosphate ore (32% P2O5) continue to trade at or near record highs and are expected to remain elevated throughout 2023 and 2024 due to global fertiliser shortages and the accelerating adoption of Lithium Ferro Phosphate battery cells.
• And finally, a quote below from Brian Campbell at Paydirt’s 2023 Battery Minerals Conference on the suitability of the Wonarah ore to phos acid production and battery metals applications.
  • “We have a very unusual chemistry which means that we can actually use a thermal process. Normally phosphate is purified using a wet acid sulfuric acid process. The thermal process is a lot simpler and it's a much lower capex operation.”
  • “The thermal phosphoric acid is the best grade of phosphoric acid it's what we can do with our particular geology and since I've walked through the door in this conference that's all I've been asked about”.
• Mr. Campbell has “experience leading engineering teams specialising in phosphate projects for global engineering organisations. This included roles with Worley as Director Mined Fertilizers, Advisian as a Strategic Consultant and Thyssenkrupp”.