Ann: Extension of LG Energy Solution Offtake Agreement, page-107

IMHO the ASIC prosecution announcement:-

• created a great deal of uncertainty about the company's financial position; and
• would have lead to significant concerns in the market that the "smell" of the prosecution would taint the company and affect the chances of getting fiance approval and continued support from LG.

When it became clear that finance would not be forthcoming by 30 June as previously indicated, many would have thought LG would bail out. As a result of that and the general uncertainty in global financial markets the SP tanked further, with the result of the CR largely failing, then further eroding confidence.

ie a bit of a perfect storm, outside the control of the current Board, triggered in a large part by the ASIC prosecution.

Now the prosecution has been settled, heavily slap on the wrist applied and BB (target of much legitimate ire on this Board) has left as a result. LG has made clear its continued support and extended agreement for off-take.

AUZ is no doubt a high risk proposition - as would any mining hopeful be in their current cash position without finance. But that is that risk fairly reflected atm in the share price, now the deck has been cleared of the ASIC stain and LG's support confirmed? I think not.