Hi Nerdy – I have answered this question before but don’t mind answering it again.
You are correct in that SKI have never explicitly stated that they would finance the build - but as far back as the 13th November 2017 AGM annoucement slides – page 23 of the FAQs section - BB said that whoever is the off-take partner – and he clearly states calling them a partner not a customer - was going to be they had to have the ability to assist AUZ finance the construction of the processing plant.
Page 23
Question:But the key is to secure off-take agreements as quickly as possible?
Answer: No – securing an off-take agreement in the current environment is rather easy. The key is who you sign agreements with.
Australian Mines is negotiating with potential partners (not customers). These are companies with strong balance sheets and an ability to assist Australian Mines finance the construction of the processing plant. This will ensure the processing plant is built as designed, with minimal dilution to current AUZ shareholders
It appears that BB from the get go was always thinking ahead and it's quite clear now - his primary objective was finding someone to help fund the construction of the plant.
As BB says - selling the Cobalt is the easy part.
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