The best shareholders can take from this is at least we have a...

The best shareholders can take from this is at least we have a clearly articulated plan / timeframe.

The important thing is what reaction LGE will have to the plan/strategy - if they do not maintain the offtake then the plan outlined is not going to do AUZ much good as the company will be back to where it was with LGE and SLK two of the biggest battery manufacturers in the world having walked away.

These statements are interesting:

> Discussions underway with LGES about sulphate product and strategic collaborative partnership

> Focusing on the attainment of a Strategic Collaborative Partner capable of providing equity support for the project,
including - Completion guarantee or cost overrun facility as may be required by debt providers for any capital cost
overruns and to maintain schedules - Offtake contract terms that match lenders’ requirements

I do note however the comment that they need "Offtake terms that match Lenders Requirements" and the comment:

The 2019 updated Bankable Feasibility Study (BFS)7 indicates a post tax NPV of US$580 million and free cash-flow generation of $5bn over the 30-year mine life. Transition to sulphate production supports access to funding, including higher levels of debt funding, and maximises the value of the project for all stakeholders. Discussions are underway with LG Energy Solution regarding their current binding long-form offtake agreement.

As has been commented in the forum a strategic equity partner has to be part of the mix so as you would expect they are looking for a strategic partner and interestingly they have stated that they are in discussions with LGE. They are also in discussions with LGE about restructuring the Offtake agreement

LGE did not walk away at 30th June so it has to be assumed that they retain an interest in the relationship with Sconi and given they continue to maintain the Offtake it also has to be assumed that they are at the very least interested in the discussions that AUZ have indicated in this release are ongoing in relation to a Strategic Collaborative Partner capable of providing equity support and in considering modification to the Offtake agreement.

The new CEO at least seems to be putting in place a defined strategy structure/strategy - the time frame is longer than I would like but at least there is a clearly articulated strategy aspiration - whether it is successful or not only time will tell with the "Collaborative Equity Partnership" being a critical element in the strategy going forward. One thing for sure is there will be a requirement for a CR in the near future.

I have been travelling for work so was not able to login to the webinar - I will however take the opportunity to listen to the recording over the weekend.