AUZ (ASX) AGM and BFS

Originally posted by killfeather: ↑

From AGM BB said he was very cumfortable with funding process. Their was a syndicate of banks ready to invest especially if NAIF funding were to eventuate as this would further de- risk the project . He confirmed SKI option for 20% share was small change for them as at any one time they had billions in their bank accounts. He compared it to purchasing a few cartons of milk. He said the 12 c purchase price was not an issue to them and they had not contacted him regarding negotiation on the share price.He pointed out that any change in their options would require shareholder agreement through a proxy vote/EGM. He confirmed the option to purchase closed at end of December. He jokingly said they (SKI) should have contacted him a few weeks ago if they wanted to negotiate. BB pointed out that the 20 % sp purchase option was to allow SKI to have full clarity on the supply chain. Without the 20 % option uptake their clarity on the supply chain would only commence when the product left the Port of Townsville and that was not how they liked to operate.
He introduced Marcus Hughes (FMG) as new CFO and that the board had an exceptional array of experience and talent. Talked of utilising Marcus' extensive array of contacts to call upon for funding options and talked of it as an easy task in comparison to the challenges at FMG.
BB talked about the funding process being completed in the first quarter including possible NAIF funding.
He was asked if they expected further improvements on tweaking the test plant. He said that having reduced the processing time from approximately 60 mins to around 45 mins he would need to spend a lot more money for a diminishing return and was better to now get on with the job of building the full scale plant. He emphasised that was his focus and priority.He also praised the decision to build the test plant. He talked of how much easier it was to explain the process to clients/interested parties through a plant walk through.
BB also talked about the VW purchase contract with SKI and the additional battery plants SKI were building . He said that AUZ would be the sole supplier to Europe and North America and the Chinese plant would be supplied by others.He said that the SKI agreement with AUZ was for more than what was required for the plant in Hungary and they had factored in the likelihood of further contracts such as the VW already in the term sheet agreement with AUZ.
On a lighter note I joked with him about his recent twitter exchanges and the ASX. He smiled wryly and confirmed he had to be careful !!
On the BFS he said that the pricing of product and exchange rates were something that the banks inserted into the BFS and did not come from AUZ.
If I remember anything else I'll pass it on .
Cheers Killfeather

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Thanks for the update . Read as if sitting in the AGM and yes it’s a positive sentiment .
Also, 25 Trading days to end of 31st December and we are 70 pips away from .12 cent mark .
Thats 140% opportunity in 25 trading days & approx 2.8 cents upwards for every trading day ... let’s the day traders play their game and let the believers go all in ...

I reckon i’ll have to move my industry super to my SMAF
& swiftly jump on it

december will surely be an exciting month for us all ..

cheers and good good luck to all ..
tg

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0.010	3248924	17
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Last 0.7¢		Change -0.001(12.5%)		Mkt cap ! $9.789M

Open	High	Low	Value	Volume
0.8¢	0.8¢	0.7¢	$7.559K	1.008M

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