Ann: AUZ partners with SK Innovation to develop Sconi Project, page-70

Hi Tony
Once the option is approved by shareholders SK have a vested interest in getting financing over the line I don’t see them stumping up $80Mil and not seeing it through.

Beyond their off-take agreement term sheet, SK Innovation’s confidence in Australian Mines, both in its cobalt-nickel-scandium assets as well as the Company’s personnel, is further exemplified by an option allowing SK Innovation to acquire up to 19.99% of Australian Mines’ ordinary shares at 12 cents per share at the date of this announcement, being 669,000,000 shares6. This option agreement is subject to shareholder approval.
If exercised7, the cash investment by SK Innovation will further boost Australian Mines’ existing strong balance sheet8 with the additional cash ear-marked to fund the initial construction phase of the full-scale processing plant at the Sconi Project, including the purchase of longer lead-time components