Running discussion on SP, page-57155

I was at the last Melbourne presentation and Nigel did get asked about the offtake price formula. I remember the comments as what was said stood out to me as one of the major positives of the night. He said the the formula of referencing various benchmark prices and the scales used are very much in AVZ’s favor and when the lawyers who were drawing up the contacts saw the formula they commented that they were impressed with it, in fact they said it was one of the best contracts they had seen in the space. A comment they made in light of being aware of other producers contracts. This information was conveyed in a very matter of fact way.

On reflection of Nigel’s most recent interview if you cannot see the enthusiasm and expectation of gaining the mining license in the time frame of two weeks at the end of the interview then you need to watch it again. Also when he was asked what the BFS would cover regarding stages he was on point and covering his ass when he said it would be for “stage one with a few more bits and pieces”… I took this to mean it will cover stage one and two imo (this would also be required by Mr Pei as he bought into AVZ on the premise of a 10 million ton scenario). Also he stated “the numbers are there”, meaning they have the BFS ready to go. He stated the tenders locked in are for 450 Million which I took to mean a stage one build initially but that’s just imo.

We are right on the knife edge now boys and girls (Jag72)