Quarterly Activities Report for Period Ending 30 September 2024

Avenira Limited (ASX: AEV) (“Avenira” or “the Company”) is pleased to provide its Activities Report for the quarter ending on 30 September 2024 (“the Quarter”).

Highlights

• Avenira secured a A$4.5 million in Strategic Investment from its largest shareholder, Hebang Biotechnology (Hong Kong) Investment Limited (“Hebang”), a wholly-owned subsidiary of Sichuan Hebang Biotechnology Corporation Limited, to support the development of its world- class Wonarah Project. Hebang has also deployed an experienced team to support the project's development.
• As part of the Strategic Investment, Avenira has strengthened its leadership team with the appointment of a new Executive Chairperson and two new Board members.

Events Subsequent to the Quarter

• Wonarah Project – Revised MMP
  • An updated MMP for the proposed expansion at Wonarah is expected to be submitted in November 2024. The revised plan aims to address updated drilling plans, with a focus on increasing mining capacity for 1.3Mt of higher-grade phosphate ores(>30% P₂O₅) and strategies for additional lower-grade stockpiled phosphate ores.
• Wonarah Phosphate Project – Terrestrial Ecology Assessment
  • To support potential developments, including a beneficiation plant and Yellow Phosphorus plant, preparations are underway for a Dry Season Survey at Wonarah, expected in November 2024. This survey forms part of Avenira's environmental commitments, with a Wet Season Survey planned for Q2 2025.
• Wonarah Phosphate Beneficiation Project – EPA Assessment
  • Environmental assessments for the proposed Phosphate Ores Beneficiation plant are underway, in line with regulatory requirements. These assessments will review alignment with previous approvals to support streamlined regulatory processes, pending confirmation.
• Jundee South Project – Aeromagnetic Survey
  • The aeromagnetic survey at Jundee South has been approved. Geological interpretation of the data is anticipated in Q1 2025 to refine and identify exploration targets.

Hebang and Avenira have been working with external consultants on several studies and assessments in respect to environmental compliance for the proposed yellow phosphorus plant at Wonarah and the global export of yellow phosphorus. These efforts leverage Hebang’s extensive experience in design and operations of phosphorous plants, ensuring that the project adheres to stringent environmental standards and minimises potential regulatory delays, while positioning it for smooth progression once approvals are in place.

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