Whats the deal with these guys? disgruntled AUZ shareholders?
Not sure what the problem is here.
Company signed MOUs with 2 giant korean companies, company announced said MOUs to market. This is no doubt in shareholders best interests.
The company has not called an MOU something that it is not, nor has it embelished the MOU with ridiculous statements such as 'XYZ will pay for the plant', 'we dont have to fund it XYZ will' ala other companies.
There is a procedure that needs to take place here. Sign MOU, complete PP run, send samples to verify specifications, move to binding offtake/negotiate any financial assistance in financing package.
It would be completely irresponsible, and against shareholders bests interests for the company to keep shareholders in the dark until the final stage.
It is completely disingenuous to mock LG Chems involvement with cobalt blue. LG chem invested $6m USD at $1.10 in an early stage resource play. That COB hasnt been able to develop an economically viable resource project is hardly LG Chems fault. Similarly AUZs inability to close on their deal with SK Innovation is more so, in my belief, a reflection of the poor economics of the Sconi project. Note that the partnership was struck before the BFS (with only a limited PFS for a much smaller plant completed by metallica). This differs quite substantially to PM1 where a resource need not be proved up. The economics are already well known through the PFS and will be confirmed in the BFS.
PM1 Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
