AUZ - SKI - Count Down Begins. 5days, page-641

That's a fair question Gong - and one which I would simply answer as l had always expected the pull back ( as per many of my earlier posts ) from the 2.9 cent previous capital raise pricing and the slight overshoot back to the 2.5 cents levels. So nothing I didn't already expect as a possibility. I believe I even mentioned a more conservative strategy to another poster who bought I believe bought in at the recent higher levels with this statement from another forum :-

" but maybe at 2.5 stop with a ' double ' trailing limit on the BUY at 2.2 - 2.3 in the advent you get caught out. "

However in so far as my own position and exposure , and as previously mentioned , I have booked quite a considerable amount of cummulative gains on AUZ since the last capital raise and elected to ' double down ' on my recent SPP take up when everyone else was calling it a ' Dog ' of a raise and the SP to test lower levels from there.

So cut a long story short , I am very comfortable with my ' averages ' pre - during , and post SPP. So at the end of the day , I have decided to hold my full position this time around , and to back myself in on the expectations that over the whole course of AUZ's timeline slippages , you'll find that at best and despite all the calls for blood and alleged misrepresentations by the BOD and BB etc....etc. - That in reality they are ONLY 3 months delayed on each of the critical milestones vis-a-vis BFS ....revised BFS , announcement of LFA and funding packages etc... So based on my experience , I would not consider this an unreasonable slippage or even unexpected given the gravity of what the Company is trying to achieve here .

Remember this announcement from January 2018 :-

31 January 2018

Specialist off-take adviser appointed asAustralian Mines advances towardsdevelopment of its Sconi Project

Australian Mines Limited (“Australian Mines” or “the Company”) (AUZ: ASX) is pleased toannounce it has appointed specialist natural resources advisory firm, Medea NaturalResources Limited (“Medea”) to advise on the off-take and project financing negotiations forthe Company’s 100%-owned Sconi Cobalt-Nickel-Scandium Project in northern Queensland.

Under the terms of the agreement, Medea will coordinate with the various potential off-takepartners currently in discussions with Australian Mines to finalize and submit their proposedoff-take and project financing package to the Company in the first quarter of 2018.
( So who was really late and undecided as per the second half of the above sentence - Medea , AUZ , or indeed the off-take partner being SKI ? )

" Australian Mines is continuing work on the ground to deliver the Bankable Feasibility Studyduring the second quarter of 2018, including ramping-up its trial mining campaign to providefeed for the demonstration-size processing plant, which is nearing construction completion inPerth, Western Australia. The demonstration-size plant will produce commercial-gradesamples of cobalt sulphate, nickel sulphate and scandium oxide, with these samples to bedistributed to the aforementioned potential off-take partners and financiers. Followingcompletion of the Bankable Feasibility Study, Australian Mines will then make a decision onfinal investment "

Which was then followed by this one .....ONLY a little over 2 weeks later !! :- ( Heading Only )

19 February 2018

Off-take agreement term sheet withelectric vehicle battery manufacturer for100% cobalt and nickel productionfrom Sconi Project