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db_nolan

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18/12/17

22:24

Post #: 29721971
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Originally posted by KWofPerth ↑

Hello All,
Following the lead of other posters in the recent past, I took it upon myself to email Mr Bell, as I had some queries about the Thackaringa project. Specifically, why there was no detail on the Auz Mines website, or in the interview he conducted with MiningNews.net.
BB responded to my questions and gave a little additional info, as per below. Just thought I'd share:

Good morning XXXX

Thank you for your email and I apologise that it has taken me a few days to respond.

May I take your question one at a time please?

"I respectfully request an explanation as to the absence in your interview of any detail surrounding the Thackaringa project, which is also notably absent from the company's website. Is this simply a case of the Thackaringa program being a third priority"

The absence of the Thackaringa Project from Australian Mines’ website is purely an oversight from me and is in no way a reflection of its status in the eyes of the company.

Australian Mines intends to advance the Thackaringa Project as we believe its potential to host cobalt mineralisation is at least as good as our neighbour, Cobalt Blue.

I will work on the website over the Christmas period and address my initial oversight by ensuring that Thackaringa is included on the website.

"Anxious shareholders are expecting results from this program imminently and the silence can create an unnecessary sense of worry. Of course, I may be unduly hasty as it has previously been announced that this information will be provided in December. If this is the case I apologise for my line of questioning."

Shareholders should not be concerned by the absence of any announcements on the Thackaringa Project as everything is on track.

There is often a tendency for companies to release information to the market just for the sake of it. It comes out of concern that there is a perception from shareholders that “no news is bad news” so they generate news purely for the sake of it. Like I said I is commonly done by some companies.

Australian Mines, on the other hand, feels announcements should be made only when new and complete information is available. This ensure that shareholders like yourself have access to all the information as well as an accompanying assessment from AUZ on any new data / information.

The Company will continue its activities over the Christmas period. This will ensure solid news flow from early in the new year, continuing for the duration of 2018.

There may be periods where the frequency of announcements decreases slightly but this in no way should be taken as a sign that Australian Mines has slowed its activities or that there is any issues with any project. That said, Australian Mines released 37 announcements in 2017 that the ASX considered to be price sensitive. That is one price sensitive announcement every 8 trading days or so. (The ASX alone determines whether an announcement is price sensitive or not).

That means our news flow from price sensitive announcements this year was 30% higher than the amount released by Clean TeQ (who released 25 such announcements).

I am conscious that the market needs to be kept up the date on our activities so will continue to ensure that information is released to shareholders as often as possible.

2018 is looking like our biggest year yet in terms of announcements just based on the sheer amount of work we have on our schedule.

I hope the above has addressed your questions and concerns. Of course, please feel free to email me again should you have any other questions or if you would like me to expand on anything I have said above

Kind regards

Ben

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Thanks champ for posting

AUZ Price at posting: 9.1¢ Sentiment: Buy Disclosure: Held
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