Perhaps the most important declaration in support of the (non) progress of financial negotiations was the statement ;
"Those discussions continue to target finalisation by the end of the current financial year and the Company is set to further expand its project financing team during the first quarter of 2022 to assist in achieving this objective,
So what in heck has been going on for the last six months to suddenly have the need to start hiring in order to assist. Obviously this still hasn't occurred and there doesn't appear to be any urgency to find the person/persons needed as there is still two months to go before the end of March. It's odds on that there has never been any intention to to meet the June 2022 deadline. It makes a mockery of the statements that the Company has been in negotiatons with financiers etc since 2018. "Interest in financing the Sconi Project has been maintained since the publication of the Bankable Feasibility Studies (BFS) in 201810 and 2019"
How the BOD can authorise a Quarterly report that contains no substance and is a repiitition of so many previous Reports and continues to repeat the same inane statements over and over again in the same Report is mind boggling.
In addition the Report also states "It should be noted that the Board proposes to retain the laterite-hosted cobalt, nickel and scandium mineral rights of the Flemington Project (including the existing cobalt-scandium Mineral Resource13) within Australian Mines. So they are NOT spinning off Flemington. What then will they be spinning off ? Pray tell!
Perhaps today's share price sums it up. Going nowhere
AUZ Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
(20min delay)