AGM and BFS, page-305

Hi folks some additional information I remembered from the recent AUZ AGM I attended in Perth.
BB said words to the effect that the Uranium issue at Katanga Mines owned by Glencore would result in a 25 % reduction in Global cobalt production. He explained the significance of these latest events and positives for AUZ mines. He said investment managers were aware of ongoing geopolitical risks of investing Africa but now a new risk factor had emerged i.e. the mining risk of uranium has now weighed heavily on the region. He said words to the effect that it was a huge positive for Australian mines and he has been getting a lot of additional interest as a result.
On the subject of Scandium Oxide BB said he can sell it all day at $1000 US, but demand falls off as you increase to say $2000-2500 upwards
He explained that the biggest risk or impediment to the mass adoption of scandium is the big companies like Airbus are nervous about being locked into scandium contracts and being held at ransom with ever increasing price increase. These companies want security of price and be convinced of this.
BB also said that it was the banks that insisted on putting a 10 % sale of scandium in the BFS to make it as close to reality as possible
Ben said Scandium was not a big driver at this stage for the Sconi project, so they will just stockpile it out the shed at the back until the market develops
BB explained in answer to a question to someone that Scandium did not cost the company anything as was produced as a bi-product of the process flow sheet
On a lighter note BB mentioned on at least 2 occasions about Hot Copper both prior to AGM and during. He made comment about the extremely negative views of many on the AUZ mines forum which he seemed at a loss to understand but smiled and dismissed with a casual shake of the head. Certainly, BB sounded comfortable and relaxed about financing and the future and gave me great confidence in the project.
His demeanour stood in marked contrast to the extreme negativity and fear projected at times on hot copper.
I am also of the belief we should see SKI taking up their 19.99% Option of $80 million by December 31st.

Then hopefully the process will be followed in the first quarter 19 by NAIF funding and subsequent funding by the consortium of banks.

To all shareholders I say Keep the faith!

killfeather