Ann: Update on ASX Listing, page-274

"if AVZ win they will earn plenty and if they lose then the selling of the asset will make them many x's of what they invested..."

Could you clarify what asset Locke might be able to sell in this scenario? Considering AVZ currently seems to be holding onto a fishing line, but it looks like there's nothing left on the end—the fish has been pilfered.

If Locke supports the litigation and AVZ loses the case, or AVZ wins and court-ordered fines or judgements are unpaid, Locke is unlikely to see a return on their investment. If we don't gain anything, they won't either. Currently, AVZ holds a contested 75% stake in Dathcom. However, since Dathcom doesn't have any active projects, the company holds no real value, making our ownership in it effectively worthless.

There are many conversations here about potential offers, but what would those offers even be for? We don’t have any valuable assets left—our catch has already been taken. The situation would change if the DRC reverses its stance and reinstates Dathcom's ML. Whether or not AVZ is delisted, if the ongoing litigation could pressure the DRC to reinstate the ML, even just for the South, our shares could be worth considerable value. It's a long-shot but still possible.

Another possibility for making money was negotiating a pay-out from the Chinese in exchange for dropping the litigation, but that option doesn't seem to be on the table.

So, if we can't get them to reinstate the ML and the Chinese don't want to pay us to drop the cases then we're left with pursuing long-term litigation and hoping for compensation.

If we don't gain anything from the litigation, Locke obviously won't either.