Ann: SKI and AUZ - Committed to building the Sconi Project, page-83

I have a feeling the below statement is telling in the latest announcement.

Given the long-term partnership between the parties under the off-take agreement, SK
Innovation could also acquire an equity stake in Australian Mines after this date, on terms acceptable to Australian Mines and subject to any necessary approvals under the ASX Listing Rules.


To me it pretty much says

"looks like SK won't take up at 12cents, as the price is now 4cents and they just don't need to right now. However they are committed and will put up money for an equity state later in the year once financing is a bit more clearer.... Especially as it's almost laughable calling 12 cents a discount these days".

So overall probably will happen, but it seems AUZ is softening up the shareholder is the equity stake is not done at 12 cents.... Otherwise why even have this statement. It will be done. But much lower than 12 cents I would imagine.