Ann: Cobalt mineralisation footprint tripled at Flemington, page-207

Interesting chat with BB...

Qeensland nickel laterite play Australian Mines (ASX:AUZ) has just signed its nickel-cobalt offtake agreement with battery maker SK Innovation.This offtake is an important step towards locking in Sconi project finance.
The SK deal covers 100 per cent of production but this hasn’t stopped other inbound enquiries, managing director Benjamin Bell says.“Yes, I certainly noticed that I’m being contracted a lot more from battery manufacturers and car companies directly,” Bell told *.But it’s not necessarily desperation, he says. These companies are just trying to get ahead of future shortfalls.“I think they are looking at that period between 2021-2025 when there’s a predicted deficit in both nickel and cobalt,”
Bell says.“In the case of SK, it took us 12 months to go from a term sheet to an offtake.“And that’s because for these sorts of companies, it’s the first time working with a mining company which means there’s a lot more ‘hand holding’ required.“A lot of these [battery makers/ car manufacturers] will be talking to nickel explorers with the thinking that ‘I don’t need you immediately, but I might need you in 2-3 years’ time — so let’s form a relationship now’”.