Avenira Limited announced the results of the Scoping Study for the Company's 100% owned Lithium Iron Phosphate Cathode Manufacturing Project (LFP Plant or the Project) to be based in Darwin (the LFP Scoping Study). The Project's strong economics and technical viability are encouraging, highlighting the potential for Avenira to become one of the leading Lithium Iron Phosphate Cathode Active Material (LFP CAM) producers globally, and one of the only LFP producers in the world based outside of China, Taiwan and Japan. The Company commissioned Bechtel Australia Pty Ltd. (Bechtel), an internationally recognised engineering, procurement, and construction management company, to work with the Company to complete the LFP Scoping Study.

Bechtel was selected due to their expertise in mineral, energy and manufacturing projects. The Company's report is a Scoping Study cost estimate prepared to between -30% and +40% level of accuracy. The LFP Plant is a standalone development in Darwin.

Avenira is currently in discussions with the Northern Territory Government and the Land Development Council for the allocation of industrial land near the port of Darwin. The Scoping Study is based substantially on the flow sheet and process configuration of the existing LFP plant in Taiwan, owned and operated by proposed technology partner, Advanced Lithium Electrochemistry (Aleees). The plant has a modular train-based design, providing flexibility to pursue several configurations for the size and location of the final LFP Project, allowing optionality to scale and finance the Project progressively.

Avenira is also reviewing opportunities to utilise Aleees' operational plant in Taiwan to facilitate its customer product qualification process.