AVZ 15.2% 5.3¢ avz minerals limited

Ann: 5Mtpa Study Further Strengthens the Economic Potential, page-4

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    ▪ 5 Mtpa (Case 2) pre-tax, pre-royalties, NPV10 of approximately US$2.63 Billion (Bn) (AVZ’s 60% share is approximately US$1.55Bn) with an estimated IRR greater than 64% based on ±35% accuracy and including US$78M in capital contingency. ▪ 5 Mtpa Scoping Study is based on concentrate sale price assumed at US$750 per tonne (t). ▪ Scope for annual production of approximately 1.1 million tonnes per annum (Mtpa) at a minimum of 5.8% Li2O concentrate from throughput of 5 million tonnes per annum (Mtpa) (Case 2) with an average strip ratio of 0.55:1. ▪ The economies of scale have resulted in an even lower strip ratio of 0.55:1 and a subsequent 24% drop in mining and processing costs from US$120/t to US$91/t. ▪ The Scoping Study has yielded an exceptional and industry leading IRR of 64% having used a more conservative Li20 price to reflect market changes in the last 7 months. ▪ F.O.B. Operating costs to Dar es Salaam estimated at approximately US$323 per tonne (t) of concentrate for 5 Mtpa. ▪ The preferred transport route has been updated and costs now estimated at US$223/t. The route and costs will be further refined during the DFS program. However, the scale and quality of the mining operation, with low mining and processing costs, allows the project to easily bear the estimated relatively high transport cost. ▪ Metallurgical test work indicates recoveries of plus 80% are achievable. ▪ Capex for the 5 Mtpa (Case 2) throughput estimated at approximately US$380 to $400 Million (accurate to ±35% and includes US$78M contingency).
 
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