Battery Giant LG Chem Prepares to Lock In Mineral Supplies (yahoo.com), page-268

This post is my own opinion, I certainly give NO advice.
This post is relevant to the thread and conversation being had.

Hi Koala
Thank you for the considered reply, I now feel that you and I are very close to full agreement on a broad range of important matters regarding AUZ.
I would also like to place on record that I believe that Michael Holmes is the only board member that has been frank and honest with the shareholders to date.

Koala, You are perhaps one of the few holders that actually have the confidence of the many shareholders here, as a holder of AUZ, there are many considerations to contend with and It is time for shareholders to focus the AUZ Hotcopper threads and to be real, the bull needs to stop because it hurts everyone invested financially including yourself through this division. A hard conversation is needed.

- The board have been underperforming since 2017 until Michael Holmes was appointed, The legacy board still remains.
- The work completed by the previous CEO might largely be rejected by government (NAIF) and potential partners in SKI and possibly LG, action speaks louder than words. You just need to look at the London Presentation to get an inkling into quality behind the closed doors In My Opinion.
The mere fact that studies are being redone as per Michael Holmes tells the story.
In the meantime LG continue partnering with all manner of EV supply chains, staying close but to date bypassing AUZ with real money.
- The critical approvals and studies are being redone at massive cost in dollars and time to shareholders.
- There, are insufficient funds to embark on exploration because the board has little credibility anymore, they also refuse to front shareholders and answer direct questions, the AGM's and other meetings are an insight into this In My Opinion.
- The board has embarked on crazy projects that are still costing precious capital TODAY like, the Mini test plant, DES experimentation, Hydrogen experimentation and the list goes on and on. All other nickel laterite hopefuls managed without a private mini test plant, they used other facilities available in Australia to great success.
- The board generally speaking is not 100% focussed on the core business of getting Sconi up and running. In My Opinion
- Flemington is a lost cause, because it needs massive exploration, the cut-off grades published for Flemington are less that half that of Sconi, If Sconi in its current form is unviable for funding with MHP, (As per Michael Holmes) then Flemington is obliterated with less than half the financial recoveries to cost ratio. A lot of work and money is needed at Flemington.
- The board needs to stop lowering cut off grades to increase the resource Life Of Mine (LOM) They can fool some shareholders but they certainly cannot fool the funding partners, Which leaves one asking, for whom are they doing this crazy stuff for, they should be doing the hard work to increase the cut-off grades and resources. Is it happening ?.
- The board has very low levels of trust with shareholders IMO, this is as a result of their own actions. As a result of this, the board generally speaking do not look to shareholders for funding, they go straight to market for the lions share of funding and expect little from shareholders but take what they can get.
This is why they have disregard for the DILUTION created, leaving landmines in the road like FREE OPTIONS at a price. this helps them with free future funding with a consequence to baked in dilution through the registry increases as a consequence.
- The board have NOT that I have seen cut back on salaries and wages for themselves since or during Covid, they have not trimmed the board headcount despite the obvious financial headwinds.
This last 5B Quarter's salaries and administrative costs for 5 quarters are shown below, WHERE IS THE VALUE.
https://wcsecure.weblink.com.au/pdf/AUZ/02625408.pdf

THERE ARE SOME WILD SWINGS IN THIS SHOWING

5B Quarterly costs
	31-Jan-22	29-Apr-22	28-Jul-22	27-Oct-22	30-Jan-23
Staff Costs	$332,000.00	$289,000.00	$312,000.00	$512,000.00	$250,000.00
Admin & Corporate Cost	$335,000.00	$967,000.00	$460,000.00	$512,000.00	$190,000.00
TOTAL COST	$667,000.00	$1,256,000.00	$772,000.00	$1,024,000.00	$440,000.00

Koala, what are the options for shareholders ?.

I was a shareholder going back 4 years, I sold out in disgust having had called them out on the mistruths in an AGM.
I have persisted in trying to share a longer term insight into what is going on at AUZ
I have watched and engaged in the forum, trying to bring awareness.
I hope that some day the shareholders will eventually revolt and get the changes they deserve.
In the meantime it has been a very interesting exercise in patience and apathy.
RED