WOW ! What can really be said about what I am reading here today. And I haven't read everything of course . However , why I am I not surprised there is a lot of messed up individuals on HC I feel. Everything from organised crime and money launder's to Christ knows what and their intentions.
Now , I'm not a religious person per say , but I do like some of the proverbs and passages in so far as the mainstream view that the love and desire for money which must then also include the loss thereof being the ' source of all kinds of evil ' . One of my favorites wordings are from Timothy 6:9
" Those who want to be rich, however, fall into temptation and become ensnared by many foolish and harmful desires that plunge them into ruin and destruction. "
And also this one which should apply to us ALL including BB and those in position's of trust which is from James 5:19 :-
" My brothers, if one of you should wander from the truth and someone should bring him back, "
Anyway moving on to equally important matters of ' Truth ' . It was never going to be easy going into and coming out of this AGM considering the following of retail holders and discussion levels on this stock. There are many issue going on her people , and a lot which is actually quite good in my opinion.
For starters has anyone taken a step back and perhaps thought that it was the Government who may of in fact not wanted the level of direct investment in AUZ from Korea via SKI . I mean , the fact of the matter was that AUZ pretty much set the scene and backed themselves into this defacto 100% offtake supply agreement . They may have well owned the whole shebang with that kind of deal really....
I mean who were they selling the product to as a potential intermediary - CHINA right. Not really the most idea situation when you are considering perhaps a ' National Interest ' argument in so far as the various ' Critical Elements ' we have now come to realize are deep in negotiation with the Americans. In the end , they ( SKI ) wanted the lot on the TAP ' N' GO ....Which essentially was perhaps going direct to CHINA . Don't know what you all think , but I'm pretty sure that would represent possible effective control ' over quite a large resource in this space.
O.k so we didn't get to 2's cents by ' Tuesday ' .....But we equally didn't see the 1's cent and below levels some of these ' charlatan's and ' scaremonger's ' had been calling. So I ask myself Why ? Why are these people wrong again. So haven taken a step back from it all and reading the AGM presentation today , I find there is a lot to like about the interim drivers of the SP in the shorter term.
So lets start by looking at some key excerpts from the Announcement. What I would like to emphasize is the fact that clearly it would seem that we have a ' LOI ' letter of Intent....which is something we didn't really know before. So indeed it does look like AUZ has been definitely in discussion's. Further support for this in my opinion would be the highlighted ' small print ' which highlight the obvious ' in confidence ' nature of the numerous signing's and ongoing negoitiation's which are clearly in motion and ongoing.
Australian Mines Offtake Partnerships & Project Financing
Offtake
• Active discussions ongoing
• Encouraging potential offtake partners to make financial commitment to Sconi
ProjectfinancingProject Finance
• Active engagement with potential project financiers is ongoing
•
Progress negotiations from Letter of Interest (LOI) stage to formal contract is a priorityA
" The nature of any non-disclosure agreement signed by Australian Mines, coupled with ASX Listing Rules, prevent the company from commenting on the NDAs, includingproviding any indication of the number of such agreements signed by Australian Mines, the name / nationality / type of business of the other signatory, of evenconfirmation by Australian Mines that such an agreement exists. "
Then there is the segment on Financial which again references the ' Hierarchical ' order of prioritizing as they say the project financing activities. This could mean many things. It could mean a strategic placement , a bond issue or convertible note to a consortium of ' QUALITY ' investors or specialized project financiers. And all of this potentially ' joint and /or several ' to the many possibilities of further ' offtake ' partners....
Financial
• Funded beyond the current financial year
• Cost discipline ongoing - reducing corporate overheads and prioritising project financingactivities
Furthermore , and what I would like to remind people of , is the ' subtleties ' , the ' Nuances ' if you like of some of the perhaps hidden drivers of the SP in the expected shorter term time-frames. One of them is portrayed by the illustration of the Flemington Project where they clearly are still waiting on further ' Mining Lease ' approvals and other approvals.
Then there is also the hidden messages being conveyed in regards the ' ownership ' of the process. To me this can only mean that this is the ' Target ' , the ' Sweet Spot ' if you like of the significant investment and IP that has been put into this project. Case in point and as evidenced by ALL the R&D received by the Federal Government on the processing end of things. So , it's not a ' pure play ' on the capital required to ' exctract ' the core ores from SCONI , but moreover a longer term investment in perhaps the ' Downstream ' processing of the Nickel / Cobalt / Sc and Battery Metals.
Anyway , it's a very sad day in the investing community if we have indeed stooped to a new low's in ethical conduct - and really do hope these matters are unfounded and as such just rumors. If anything for Ben's sake and his family as that is nothing short of disgraceful......
(20min delay)