It's Time for AUZ, page-4

I get the concern about the progress achieved by the board - but we have to assume under ASX and ASIC rules (ASIC rules being backed up by significant penalties) they would not have said they were in confidential negotiations if they were not and likewise if there are no ongoing negotiations then they would have to disclose that also. Of course there is no guarantee of the quality of the parties they are in discussion with or indeed the quality of those discussions.

As with most shareholders I am disappointed and frustrated by the lack of progress by Management/BOD with AUZ putting anything in place - that said if there are negotiations underway with offtake parties (and potentially funders) then a significant change in management or the Board would likely cause concern to those parties and kill off any deal.

Within the constraints of any negotiating confidentiality it would be nice however if the BOD did issue some sort of update statement to shareholders if an announcement is not forthcoming soon - the implication I got from the wording of the last statement was that there might be an announcement late December/January-February.

I have a number of other investments that are in offtake negotiations involving a number of other resources and those seem to be dragging out also. It is easy to blame COVID for negotiation delays but inevitably it must be impacting many offtake / funding negotiations if for no other reason than that Europe and the US have and are currently experiencing major impacts from COVID on their domestic economies. Throw in other international uncertainties such as the Democrat transition in the US, Brexit, China flexing its muscles in terms of trade and some military (e.g. South China Sea, India border), COVID impacts in Asia and South America etc and there is a very uncertain business environment around the world - it is inevitable any significant commitments re offtake/funding will proceed slowly and cautiously.