Regarding potential price sensitive announcements we might...

Regarding potential price sensitive announcements we might expect, referring to the presentation to 180 Markets on 28/3/22, https://www.youtube.com/watch?v=QuBAM15nFBM noting it was pre BFS, VA does make some relevant comments

1) Finalisation of offtake agreements

a. Vanadium - at 18:24min mark “a lot of work to do on offtake side but with BFS released we’ll be able to really lock in some of these”,

b. FeTi at 19:19min 55% Fe product, “has a very specific destination and a very specific market and we’ve really started to lock it in, it’s really a key part of our strategy, and it is a totally differentiating strategy for AVL because of the location of the site we’ve decided to use”

2) Resource expansion – at 20:33min “our resources currently sit at 25 years in terms of what we can mine in this iteration. We’ve got about another 10 or 15Mt that we haven’t accounted for are still inferred resources that we can bring in, so let’s call that another 4 or 5 years of mining and then we’ve got other resources in the region that we can take advantage of and put through this processing plant over time.”

A few other things also spring to mind that can proceed post BFS, offtakes and resource expansion

3) Arranging project funding & approvals leading to FID

4) Engaging construction partner/s

5) Milestones reached to trigger payments from $49M govt grant

6) Electrolyte plant construction progress

7) VRFB trials progress

As for when they can be expected, it would be ideal if some or all occurred over the next 6 months, but as yet lacking a current detailed timetable from AVL.

AIMO