ab pre feasibility, page-7

Thought I was being very clever suggesting the JV for AB, but on reflection not so clever after all. Was just reading the Investor Preso from 12/3 and it clearly states KZL are looking at JV partners.

Mungana will help fund this and the JV will de-risk the project. Smart using a Chinese company too as this increases the prospect of remaing a stand alone entity over time given FIRB reluctance to allow greater than 15% Chinese ownership in tier 1 assets. Great long term play IMO.

JT