Ann: Nickel and cobalt exploration commences at Sconi Project, page-6

It's interesting that they are proposing commencing capital expenditure on further exploration of Sconi right now.

They don't have a huge amount of cash given current expenditure and this will obviously further impact cash.

You would have to assume they know a CR to get cash in the event they don't get funding for the LG offtake and LG walks away would be very difficult and likely at a huge discount to the current share price.

The results for any exploration would likely not be in before they need a CR and even if they were good I doubt that would help improve the support for a CR if they have lost the offtake from LG.

To put a positive perspective on the announcement perhaps they have basically locked in funding for Sconi and it is in final due diligence/ documentation stage and they feel comfortable about moving on to the next stage of development for AUZ at the site.

30 June is fast approaching so we will not have long to learn the next twist in the AUZ "saga".