AUZ Management - BBs Track Record, page-30

Flippa

Thanks for the insight - as stated in the agreement, SKI have probably already been for the last few months in agreeing the process flow and now having been selected as AUZ's partner in finalizing the BFS.

However Sconi is an AUZ project and I am sure Ben Bell will be ensuring that he representing all shareholder including the majority (80.01%) non SKI shareholders. I therefore expect the AUZ project team to have final say on appointment of project managers, specification, bidding and final vendor selection, project build and commissioning.
As regards the finance I am sure the Korean banks will provide financing per the amounts agreed based on the approved BFS which SKI will have had inputed into and "blessed"as being correct. The benefit of SKI having input and blessing the BFS is it will make the Korean Bank very comfortable as the viability of the project and the amounts advanced.
I do not expect SK group to advance/loan funds directly to the Sconi project (beyond the 19.99% equity purchase) as I am sure there are will be more than enough Korean Banks (not SK Group) interested in financing the project.

As always Flippa many thanks to you and Jd for your great comments and educating us non miners, what I would really love is if you and JD went and worked for AUZ Sconi - then I would know everything was done right. All the very best. thai