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The last bullet point could be what is brewing here. Just a thought, a FID could come subject to appropriate environmental measures being in place

Regards

DD

Lisa Drake, Ford Model e vice president, EV Industrialization, said:

"We look forward to developing this new relationship with ioneer. Helping unlock lithium in the U.S. will help us support localized production of battery cells going forward and, ultimately, support our efforts to deliver EVs for millions of customers."

Key terms of the Agreement include:

• Product: Lithium carbonate.
• Contract Duration: 5 Years beginning when ioneer notifies Ford that the project has been fully completed and commissioned in accordance with the engineering, procurement and construction contract applicable to the project (anticipated in 2H 2025).
• Volume: 7,000 tpa.
• Price: Adjusted quarterly based on agreed market-based price formula.
• Currency: USD per metric ton.
• Conditions Precedent: Ioneer's Final Investment Decision anticipated by June of 2023