Ann: Quarterly Activities Report, page-69

However the market responds today is of no concern to me, how the market responds over the forthcoming 36 months is what I am interested in. Macro issues are influencing MARKET sentiment currently, a fact you conveniently like to ignore.

I saw many positives in the report I have picked out a couple I liked;

1. Project financing negotiations accelerated and Bankable Feasibility Study near finalisation,

huge dollar value project at Sconi, as another poster so eloquently put it "we are not setting up a hot dog stand here" This is a deal that has implications for the entities involved lasting the next two decades. It needs to have EVERY variable and nuance accounted for. This takes time, more than many retail holders can bare in some instances.

2. Benchmark set with largest sample of cobalt sulphate and nickel sulphate exported from Australia produced from Australian Mines’ demonstration-size processing plant.

This really is the sealer, the fact we have PROVED the JORC resource at Sconi can produce battery grade product that exceeds specifications puts AUZ MILES in front of the other Ni and Co juniors in the country.

3. Positioning Australian Mines as potentially one of the lowest cost producers of high-purity scandium oxide known in the world, which is enabling the Company to penetrate the advanced materials sectors with automotive and aerospace industries

Brilliant potential here, I have a little understanding of whats happening in the advanced materials sphere at a major university. Mind blowing what is being done at some of these university's with alloys Sc and the like. This really could be another big source of revenue "in my opinion".

4. ▪ The signing of a binding long-term off-take agreement with Australian Mines by one of the world’s globally significant electric vehicle battery makers in SK Innovation suggests confidence in the technical approach Australian Mines has adopted with regards to the Sconi Project, as well as in the Board’s ability to bring the project into production

SK know what AUZ have, they conducted extensive due diligence prior to signing the binding off take agreement. EVEN if the equity take up does not occur as some have suggested, they will, in my view, still buy the Ni and Co. There are a dozen ways to skin a cat. We also know that globally SK are strengthening their position and playing the long game relative to the implementation of their battery production strategy. In short they will HAVE to have a supply of critical metals locked away.

5. The timing of the BFS release remains fully in-line with targeted production dates of the Company’s off-take partner, SK Innovation, which has been part of this review process and continues to be fully-engaged in the development activities of the Sconi Project.

I don't doubt the above statement, I like the language, not committing to a date but highlighting the PARTNERSHIP with SK, and divulges that they are STILL fully embedded in this MASSIVE project with a time frame that will most likely measure two decades at minimum.

There was also much written about the other projects and drilling programs that I liked as well.

In short nothing in this report changed my view of where AUZ is headed over the medium to long term.

I am not to fussed if the share price sits around these levels for a while longer yet, as long as behind the scenes the brilliant team at AUZ are still diligently working towards moving from an explorer to a producer. This report tells me that is still happening

DYOR