AUZ - Fireside Chat, page-197

Now there's the kinda Government assistance and joint co-operation I was only just writing about yesterday folk's. Great News and Great to see......

Australian Mines Limited (“Australian Mines” or “the Company” (Australia ASX: AUZ; USA OTCQB: AMSLF; Frankfurt Stock Exchange: MJH) is pleased to advise that the Northern Australia Infrastructure Facility (NAIF) Board has indicated it will move to investigating the potential for providing NAIF support for Australian Mines’ 100%-owned Sconi Cobalt-NickelScandium Project located in Queensland.

The NAIF is a major long-term initiative of the Australian Government and provides access to up to $5 billion of finance, which may be on concessional terms to support infrastructure development that generates public benefit for northern Australia. It also seeks to encourage and complement private sector investment to further that objective.

Australian Mines’ Sconi project has been under consideration by NAIF for possible financial assistance and has progressed through the Enquiry, Preliminary Assessment, and Strategic Assessment Stages and is now in the Due Diligence Phase. The next step for Australian Mines is to provide detailed due diligence materials to NAIF for review and to then submit its formal Investment Proposal. NAIF has not made any decision to offer finance or made any commitment to provide any financial accommodation and there is no certainty that an agreement will be reached between the parties.

Australian Mines Managing Director, Benjamin Bell, commented: “I am pleased that the NAIF Board is considering potential funding support for Sconi, our flagship cobalt-nickelscandium project in Northern Queensland. The project has the potential to provide significant upgrades of existing infrastructure located within the Greenvale region within Northern Queensland and 90% of its ongoing annual operational expenditure is expected to be with local businesses.” ***ENDS***