Ann: Yibin Tianyi Withdraw FIRB Application, page-335

You state AVZ has no debt and no cash burn. It also has no cash and the burn will come to $500m when a mine needs to be build. Let’s be frank, AVZ is in deep trouble. Their big resource is all well and good but you need lots of debt and cash in the form of equity to get that on a ship. Prepaid offtake money is nowhere near enough to get going. The perfect storm with the FIRB ruling , CV19 and a world recession will close the door for AVZ for many years IMO