Ann: Binding offtake agreement signed with LG Energy Solution, page-1416

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20/02/22

16:18

Post #: 59689478
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Originally posted by ClockworkSmurf: ↑

Some of us realise that we need to listen to the market.

QLD hasn’t produced nickel for almost 30 years now. That’s the market speaking, loud and clear.

’He’d dump on us if we raised $20,000,000 ( $21,500,000~ actually ),’

That’s accurate as I don’t see this company using its funds in a way that produces meaningful value. More than one AUZ quarterly has shown that the same or more is spent on wages/retaining tenements than is spent on development!

When a company has the largest undeveloped laterite resource ( with growing sulfide potential ), in the 5th highest nickel producer on the planet it needs big money. AUZ’s junior peer raised over $20,000,000 in the space of 5 hours of market time. The offer wasn’t even open for a full business day! Admittedly at a discount but a lower discount than I’ve seen here, time and time again.

For context, that discounted price is still 50% higher than the peer’s SP was for most of the end of last year.

By comparison AUZ with its offtake from a great company hasn’t been able to raise a single dollar from that partner, not even over the course of six months or rising nickel/cobalt prices!

Some of us know that the market is way smarter than us. We follow very simple things.
The resources. The money. The management.
Cheers for your interest in my posting. What a sign of confidence that peer’s raise is! I was invested here. I learnt about the company and the way it is managed. I didn’t like what I found. I made a few bucks and got out. This offtake with LGES hasn’t changed my thinking one iota. In fact it’s underlined my thoughts on the AUZ Board & projects- that they have not created a position of strength.

The only blinkers I have are those I see the industry using.
Due to the fantasitc amount of money the peer just raised I believe AUZ will have a slightly harder time with their next CR. It will either be smaller than is needed, or be followed quickly by another. I still remember the multiple CRs that were done here in the space of 12 mths only a few years ago!

The sun is always shining somewhere.
Time to get out amongst it.

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30 years ago there wasn’t an ev revolution in the making

AUZ Price at posting: 18.5¢ Sentiment: Hold Disclosure: Held
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