Ann: Drilling of base metal targets commences at Thackaringa, page-108

As the interview suggested : it will take upto 5-6 years before AUZ can even get first shipment of nickel and cobalt sulphate out to its off-take partner...(once it is announced).

Secondly the deal will have to be something like this, if AUZ is to get anywhere:

- 100% off take partner
- Confirm 20-25% fixed price today for the nickel and cobalt sulphate...which will be a benefit for the off take partner.
- balance to be market price upon delivery.......which will be in favour then for AUZ
- With this kind of deal, then only will IMO the off take partner put up a financial deposit....for the off-take agreement...
- IMO : approx $250m to get started and then maybe NAIF will come in for another chunk and maybe other investors for the rest of maybe may need to raise some debt.
- Even if all this was to happen, I don't believe AUZ will get the first shipment out till 2025 at best, and 2026 at worst

Well i guess all will be revealed by of prior 30th Sept 2020

GLTAH