The move from inferred to indicated resources is only a big...

The move from inferred to indicated resources is only a big positive!

Why?

Because the move from inferred to indicated of approximately 12 million tonnes means this:

"Confidence sufficient to allow the the application of modifying factors to support detailed mining planning and factor in final evaluation of the economic viability of the project."

In other words you can only make revised mining plans and economic re-evaluations such that will be in the revised DFS ONLY if resources have moved from inferred to indicated.

Thus the companies table of benefits:



BTW at the meeting last night Graeme Johnstone, Technical Director, was particularly bullish regarding the wedge results, saying it will save the company millions as in costs, waste no longer having to be removed because now it is ore for feedstock, strip ratio considerably lowered, greater mineable resources, with a significant reduction in the payback period-a big carrot to financiers!

Make no mistake the wedge drilling was a significant bonus!

What was also exciting was the drilling of Carriere de L'Est which will continue to grow our already world record global hard rock resource. There is also according to Nigel the probability that its ore can be used in stage one because being so close to the surface and its very high grade, in some cases over 2% to blend with Roche Dure's ore....sohhh... higher grade and less ore required to produce SC6 and therefore greater efficiency, time and cost saving!

BTW being so close to mining the biggest hard rock lithium resource globally by Q1 2023 is a real achievement! as for all the boxes that have been ticked! For instance there are some great mineral deposits out there of all metals but mining for many is still quite remote! Take for instance De Grey that have the big gold deposit who have stated they will not be mining their gold until 2025 , so we are really in a great position time wise and are mining the right metal with a lithium shortage forecast right when we come on line, and therefore lithium prices will go higher. As Managing Director of AVZ Nigel Ferguson states we are highly leveraged to the electric vehicle/energy storage thematic!

Exciting times for AVZ!

AIMO