O.K so despite your assertions that ' Nobody is Talking ' what would you make of the simple fact that since the ' Last quarterlies released on 31st January and despite the Half Yearly accounts being released within the 75 day allowable time frame , there has only been 3 other announcement since the last Company update on 6th November. Not even anything during the market fallout and COVID-19 disaster commenced around 22nd February 2020.
What's even more strange to me , and without anyone talking as you say ( except clearly the company and other potential offtake partners ......
) is the additional fact that after making these comments on 9th March :-
" The production runs are to facilitate the Company’s discussions with potential offtake partners1to secure binding offtake agreement(s) and financing for its 100%-owned Sconi Cobalt-NickelScandium Project in North Queensland, Australia. These discussions are preliminary,incomplete and confidential. The Company will update the market at the time if agreement(s)are reached. "
Australian Mines Managing Director, Benjamin Bell commented; “As previously advised,Australian Mines’ primary focus is progressing negotiations to secure offtake and financingagreements for our Sconi Project.
“ It is encouraging to have potential offtake partners assessing Sconi’s ability to consistentlydeliver battery grade materials and to have another potential customer testing the purity of ourscandium oxide.
That the Company then backed it up with it's Quarterly Activities and comments below which were reported to the market on 3rd April some 4 weeks later , and yet 27 days EARLIER than officially required for it to be released on 30th April 2020........
" During the quarter, Australian Mines maintained its focus on the successful development ofits 100%-owned Sconi Cobalt-Nickel-Scandium Project in North Queensland. The Company’spriority remains advancing discussions with potential offtake partners for the Sconi Projectwhich, when fully operational, will position Australian Mines at the forefront of the batterymaterials industry. These ongoing discussions are underpinned by the Bankable FeasibilityStudy, which clearly demonstrates the commercial case for developing the Tier 1 SconiProject. "
Thus far, progressing discussions with potential offtake partners has been largely unaffectedby the disruptions resulting from the current measures put in place to combat the spread ofthe COVID-19 virus. During these unprecedented times, however, the safety, health andwell being of all our staff is paramount to ensure we are able to deliver on our developmentgoals for the Sconi Project.
We announced in March 2020 that potential offtake partners had requested we supply themwith battery grade nickel sulphate and cobalt sulphate crystals, and high purity scandium oxidefor independent testing. The test samples are being produced from Sconi ore that is beingprocessed at our Perth-based demonstration plant. The test sample production runs arecontinuing as planned and we are not experiencing any operational impact, at this time, fromrestrictions associated with the global COVID-19 pandemic.
The current sample production runs are supporting Australian Mines’ preliminary, incompleteand confidential discussions with potential offtake partners to secure a binding offtakeagreement and financing for its Sconi Project. It is expected our selected partner will make ameaningful financial commitment to the project financing of Sconi, as part of any offtakeagreement."
So clearly plenty of discussions underway, and much talking going on around these samples. Perhaps that is why they have endeavored to announce in pretty much quick succession these matters concerning ongoing ' off-take ' negotiations which have in fact occurred well before the required releases of their Quarterly Reporting timelines. So it is worth noting that both the March Qtr Activity statement as well as the Cashflow statement had both been released one year ago in 2019 on 30th April.
So this would lead me to believe we may hearing , writing , and talking among ourselves with some further news sooner rather than later , else WHY GO EARLY ...... and so what other information might they be thinking will be falling due on what otherwise would have been the ' natural ' date for release of the Quarterly Activity Statement.
All of this aside - the main issue for investors is how we can make some money from the interpretation of all this. So for me it comes down to answering the basic question in that should we be accumulating more aggressively over the next couple of weeks , because although the SP has more virtually doubled in the last two weeks , it is still only at where it was at the beginning of this whole global mess - ie COVID-19 and global market falls.
(20min delay)