Announcement or NOT - I can't see AUZ re-visit the 3c again - that opportunity is GONE
The momentum in AUZ has been coming for nearly 12 months now and the share price will stay above 4c imo. We are 12 months+ in to become the World’s largest Scandium company with a shite load of Cobalt and other commodities Oct 2016 – AUZ positions to become the World’s largest scandium company.
Announcement or NOT - I can't see AUZ re-visit the 3c again - that opportunity is GONE
The momentum in AUZ has been coming for nearly 12 months now and the share price will stay above 4c imo.
We are 12 months+ in to become the World’s largest Scandium company with a shite load of Cobalt and other commodities Oct 2016 – AUZ positions to become the World’s largest scandium company. Oct 2016 – JV option granted Oct 2016 – Successful Capital raise Dec 2016 - Acquire 75% of Sconi
- Acquire 100% of Flemington Scandium-Cobalt project
- Scoping study commenced - Flemington FEB 2017
CR
Completion of DFS at Sconi
Completion of Scoping study and commencement of Pre- Feasibility Study – Flemington
Completion of significant drilling at Flemington – Initial JORC Cobalt resource and increase existing candium resource.
Flemington Scoping study advances project to PFS phase
Opened dialogue with potential project financiers
Finalise mining leases
Commencement construction demonstration size and fully operational high-pressure acid leach (HPAL) processing plant
APRIL 2017
Mining lease application at Flemington cover an area of 3,900 hectares
Investor presentation
Share holder Entitlement offer to raise funds towards HPAL plant
Increased technical team to promote projects
MAY 2017
185 x drill program commenced
Previous drilling intersects thick sections of Cobalt
Scoping study confirms high-grade Cobalt continuous beyond the current resource estimate
Construction commence on HPAL plant
First commercial grade, saleable cobalt, nickel and scandium products scheduled to be delivered in November 2017
JUNE 2017
Land agreement clears the way for exploration – 100% owned Thackaringa Cobalt Project
10 fold increase in sconi cobalt, scandium, nickel in QLD
5 New exploration licenses
JULY 2017
Builder appointed for process plant
Plant on target for first sale Nov 2017
PFS on target for Q1 2018
AUG 2017
Drilling results doubles cobalt footprint at Flemington
Scandium footprint now three times larger
Mineral resource estimate to be released in 6 weeks
R&D cash rebate boosts cash reserves
SEPT 2017
Metallica agrees to sell 100% of Sconi project to AUZ superseding the farm-in & JV agreements
Trial mining commences at Sconi
Mining & environmental approvals in place for full scale mining operations at Sconi – Mine Life 20 years
Helicopter-bourne survey started at Thackaringa Cobalt project, exploration commences
OCT 2017
Water license secured at Flemington project
What is happening?
AUZ strategy is to develop a world class cobalt-nickel-scanduim project in Australia. The strategy acknowledges to rapid global growth to cleaner, more sustainable energy sources.
Mine raw materials used in emerging battery technologies, with both projects having mine lives for 20 years
The Sconi Cobalt-Nickel-Scandium Project is one of the most advanced cobalt projects in Australia, with all necessary approvals for mining in place and a Bankable Feasibility Study underway. Flemington was the subject of a highly positive Scoping Study released in the March quarter. A resource extension drilling program was completed in the June quarter of 2017
AUZ began construction of a demonstration-size processing plant in May 2017. The plant is expected to begin producing commercial grade samples of cobalt sulphate, scandium oxide and nickel sulphate in the latter part of 2017. Australian Mines regards production of these samples for assessment by potential customers as significant in expediting future off-take agreements.
The Sconi Project BFS is progressing to schedule and Australian Mines anticipates announcing a final investment decision after the release of the BFS.
The BFS is assessing the feasibility of a number of scenarios for any future operation at Sconi, including significantly higher production of cobalt and nickel than contemplated in the Pre-Feasibility Study and Scoping Study.
Based on the throughput contemplated for a full-size processing plant under the Sconi Project’s PFS, average annual production at Sconi would equate to 3,010 tonnes of cobalt sulphate, 24,420 tonnes of nickel sulphate and 77 tonnes of scandium oxide for at least the first 20 years of operations.
This production is based on the project’s expected average cobalt feed grade for the first 20 years of production of 0.11% and average nickel feed grade for the first 20 years of production of 0.81%
AUZ share price at .045 and we have all mining & environmental approvals in place for Sconi and BFS underway. We have started the construction of Acid leach processing plant due to commercialise product in Nov/Dec 2017. – AND LOTS MORE
See operational & financial review in the announcement – Annual Report to shareholders
AUZ Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
(20min delay)