Imminent capital raising, page-110

As I commented earlier I think it is a stretch to say that LG signed a multi million dollar long term commitment subject only to finance purely because they did not have to commit to any equity injection or pre payment.As I have said previously LG must have some strategy / belief the project has prospects of going ahead to enter into the agreement and then extend it.

If not they could have just gone along with the same agreement to any number of potential nickel projects. Using the same logic that LG are signing offtake commitments with no risk they could spread them around like confetti - except that multinational companies don't sign long term commitments like they have for Sconi without proper investigation just because they are signing them with no $ upfront commitment in the agreement.

Yes it would be nice if LG had committed to inject equity or committed to a pre payment at the start of the project but they have not done so in the offtake agreement on the table - if anything is happening in the background who knows.

One thing is certain $ up front or not the extension showed that LG has interest in the project and at this stage is prepared to wait on developments, they may well pull the agreement through lack of AUZ obtaining funding but that remains to be seen.

One thing for certain is that the longer funding drags out the more likely LG will pull the offtake agreement.

I just noticed there is an announcement and a presentation release - I don't have a chance to look at it at the moment but hopefully that will provide some more details on the status and direction AUZ is heading in.