"Gave it away for Free" - this keeps getting quoted by various non holders.
The offtake agreement from LG is about as good as it gets in terms of forming a basis for a funding proposal.
By "free" do you mean LG have not indicated in the offtake agreement they are injecting capital or offering a pre payment?
Taking up equity / pre payment is not a prerequisite for issuing an offtake. For a start we don't know that LG are not offering anything in the background which has formed part of the finance proposal they could well be. At the risk of sounding like a broken record.
As I have commented previously a company like LG would have done their homework to ensure there was every likelihood that Sconi will get funding.
LG clearly are firming up resources for their forward commitments why would they commit to a project they did not believe would have a chance of getting funded and producing the resources they require?
Also I can't believe LG would enter into a transaction where they did not believe the offtake agreement they have provided did not have a very good chance of getting funded - reputation is important to Korean companies.
AUZ Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
