Replying to your statements Frank.Frank: "still no clear pathway...

Replying to your statements Frank.

Frank: "still no clear pathway to production, the PFS results would not pass an independent DFS. There's too much uncosted expenses and most of these are out of the control of the company. the company made multiple announcements about their "battery grade" capabilities, unfortunately this is another thing that hasn't come to fruition"

The PFS is preliminary and a DFS is definitive. I'm not an expert by any means but the definitions of the words themselves suggest that more detail will be needed to qualify for a DFS - and so it should. I think it's a little absurd to throw one feasibility off against the other so early. Lets wait to see how things progress. It appears most people are accepting that the battery grade conversion is a valid question and I am eager to understand how this will be managed. Having said that, I'd say refer to to dc1234s latest comment regarding this and that at this stage getting to production is key. If you either add the $2,606 per tonne conversion to the OPEX or deduct from the carbonate price used to project potential gross income, you still arrive at a healthy positive NPV. If you want to understand NPV and the time value of money, I suggest going on YouTube. A dollar today is worth more than a dollar in the future.

Frank: '"following its DLE peers down in SP, would be expected from here. the big picture was the company lost 48% in SP this year of 2023. The Prairie acquisition and subsequent PFS have not added value, as promised by the pumpers."

Hoping we've found our base now. We have money in the bank and a pilot plant producing battery grade carbonate that can hopefully secure an off-take. Regarding the 48% loss in SP, I don't need to say anything about this - look at the entire sector and the carbonate price. AZL are subject to those macro factors the same as any other company vying for spot. The PFS was released only a few days ago during the holiday season so perhaps that was a factor in why the market hasn't responded yet. There will be more news flow to follow. We still have a strong NPV which can only be improved now with carbonate prices going up from lows, CAPEX and OPEX deductions, government incentives etc. LKE went with a 30k life of mine carbonate average so even if you deduct the conversion cost we're still deriving a solid NPV.

Frank: "AZL goes into 2024 with more questions than answers. the narrative about "anyone" can convert this is laughable, like there are many big DLE conversion facilities to convert everyones differing brines and ship it around the continent, Pure magic indeed. dont shoot the messenger, the market decides the fate, not Pumpers or Downrampers on some little forum. next year will be entertaining, as the company trys to sell the idea to capital investment, or go it alone. i wouldn't miss the show. . GLTAH"

It's the companies job to answer the questions, so again please refrain from catastrophising just yet. I think your comment that "the market decides the fate" is something you could ponder yourself for a while. Daily downramping and literally picking at aspects of the project that require time to decide and action is a really ordinary look.

Also, a parting comment Frank. I enjoy the role playing your different aliases take. Each have their own characteristics... MarcEdge is the pip warrior and BobbyDazzler is somewhat more refined... he brings a little more. Its cute stuff mate. Would you consider merging them into one all encompassing authentic entity known by first name as Frank? Credibility is king and I'm fascinated how prolific you and a few others are on here with your negativity.

Looking forward to your response and Happy New Year