Ann: $21 Million Investment Incentive for the Prairie Project, page-48

Fast cash is one reason. Cash can be used to speed up expansion (instead of an equal sized loan or equity raise). Can that cash be better used now vs. waiting for it over time? If yes, then trade away.

Not sure what the $21mil credits are worth on the open market but in theory another entity with a large royalty bill might offer $15mil cash to AZL for their $21mil in credits (numbers our out of my ass but i'm sure you get the point).

If AZL cannot use cash right now to better/accelerate the company's position then yeah keep them for later as they are worth more. Not sure how long it will take AZLs royality bill to get high enough that all the credits can be used. Would also need to consider CPI ($21mil now vs. $21mil in x years, with x years being the time to use the credits).

So can certainly see a potential reason for considering credit trades.