AUZ 5.26% 0.9¢ australian mines limited

Tell me the reasons why there may be a no funding support??There...

  1. 176 Posts.
    lightbulb Created with Sketch. 140
    Tell me the reasons why there may be a no funding support??
    There are lots of good reasons why the Sconi project ought to be supported.

    * Great team of experienced senior executives + equally good support management team;
    * Many drill assays have confirmed the availability, viability and longevity of the mine;
    * Nickel, cobalt in good global demand for a growing electrical battery powered vehicles. All market indications indicate an upwards trend.
    * SKI believes in the holistic operations of Sconi and has signed a conditional approval subject to finance; it's understandable.
    * Sconi has so far progressed on timelines announced to the public and is waiting for a funding approval.
    * The Qld gov't believes in the project and appreciates the local support Sconi will convey to northern Qld. This is fantastic for our economy, jobs, structural and mobile equipment spending, education, housing support to local retailers and, the development of a new billion dollar mining company in upper north Qld; this is "f-----g" great!
    * NAIF precisely established to support projects like Sconi (the puzzle fits-in). Unless, there is something adverse there that we cannot see yet, why the hell should they not support Sconi? I'd like to think other syndicated lenders will subsequently join-in should NAIF falls short of providing full funding. I hope NAIF can see the full potential of Sconi and Flemington etc and provide full funding.
    * Yes, AUZ does need a strong anchor lender like NAIF or other similarly reputable lender(s).
    * Yes, once a decent loan is secured AUZ & its shareholders clearly expect SKI to move to unconditional on its Off-take Agreement.
    Am I optimistic? Yes. Will I be greatly disappointed if the imminent funding is not forthcoming? Of course I would be. However, I expect the management, not give up, observe what they need to rectify, remobilise and continue seeking appropriate funding. Why? Because, I for one believe in the project otherwise I would have moved out by now.
    Good luck to all....

 
watchlist Created with Sketch. Add AUZ (ASX) to my watchlist
(20min delay)
Last
0.9¢
Change
-0.001(5.26%)
Mkt cap ! $12.58M
Open High Low Value Volume
1.0¢ 1.0¢ 0.9¢ $16.19K 1.620M

Buyers (Bids)

No. Vol. Price($)
20 2868655 0.9¢
 

Sellers (Offers)

Price($) Vol. No.
1.0¢ 4365180 22
View Market Depth
Last trade - 11.25am 22/07/2024 (20 minute delay) ?
AUZ (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.