EPA update, page-42

we are at 254m SOI at the moment,

to raise 800m cash ive got $150m Danish export fund 400m NAIF, ARENA etc., $100m in prepaid offtaking financing is possible throguh steel and battery partners, and after EPAs and all studies are done we can definetly be at a ~$180m market cap equal to AVL (70.8c a share), and raise the last $150m at say 62.5c a share (11.7% discount) for an extra 240m shares, taking us just shy of 500m total, not 1b shares you've stated.

If we remove the 100m prepaid offtake financing and add 20% to everything else, I still have us fully financed at 734m shares. I don't believe on our own we reach 1b shares on issue.

I think AVL would go higher than 14-1 if we got EPAs. I'm starting to think if they don't have TMT all they have is an electrolyte facility that is supplied from North America not Central WA, no EPA, and a stupid plan to truck unrefined ore 600km at an impossible 79c a litre diesel price.


Danehill I agree it is a takeover.