Ann: Sconi Project in Due Diligence Phase for NAIF funding, page-252

Your timing is impeccable and your research second to none. Thanks for your insights and POV on these forums. One thing I have been wondering about is the simple fact that if AUZ was just a two-bit company (great project but ultimately incapable of taking it through to prod), would they be getting constant major player interest?

Specifically, I do agree with you that Sconi is a very significant project for Qld and for Australia. It wasn't accidental that ScoMo turned up in Townsville and offered to upgrade the port. It also wasn't accidental that SKI turned up and signed up for a deal. And also that Bergen invested and that reportedly there are 9 financial organisations involved. It was interesting also that almost straight after the ScoMo fly in, the NAÏF just popped up and have already gone through their initial reviews and early stage DD.

What I think might be happening is that AUZ engaged NAÏF because they knew there was a positive impact for Qld and the local community if they succeed with Sconi. And it was NAÏF in fact that alerted the Libs to the true potential of this project - obviously being associated with a mega project like this is almost the same as recently they tried to do with the Adani Coal project, right? So we know the Libs have an appetite for such projects and with the upcoming election and the difficulties they are facing, I would say they also have urgency to show how good they are for Australia. Such a shift in opinion would most definitely lead to revised polls.

All this institutional attentions is pointing me to say that this fat lady is nowhere near singing.

I was wondering, would you mind eluding to some of the factors you are looking for in the Quarterly please?

I personally would like a clear update on:
1/ Where are we at with the BFS, drilling campaigns, funding negotiations and relationship with SKI (to the extent that disclosure rules permit)
2/ Better explanation of how they will use the Bergen funding
4/ I want to see more frugal use of capital - admin expenses, share grants, use of funds towards accretive initiatives
5/ I want to see evidence of "Say what we do, do what we say" - so far this has not been particularly good. I have lately noticed a change in pattern of Anns in that they have become less frequent, more factual and only happen when things are done. Good sign, now we just need consistency and follow through. For example, all those * videos have raised expectations of certain results - I now expect to be kept up to date on what's happening and factual results when they have them. Not some hyped up Ann to satisfy the retail public.

Anyway, I'm really interested in your POV.

All IMO