AUZ (ASX) NAIF Funding

Originally posted by thaiinvest ↑

Re my earlier post re Sconi

I think come Sept 31 2019 the SKI agreement will be declared null and void and at the same it will be announced that AUZ has received "unsolicited offers' from the following entities and that discussions on binding off takes will now take place with these alternative entities. I would expect these discussion to conclude in binding off takes within 30-90 days Max

Note

- The unsolicited requests (plural)

- Plus the retesting of Sconi ore through the scaleable demonstration plant to ensure that it meets (actually exceeds) that already supplied by the likes of that produced by Sumitomo Metals plant in the Philippines .

- Plus the fact that the finance discussions are stated a 'separate ' from the SKI discussions on the Long Form Agreement

I would say that the BOD and Management have already lined up potential contingent partners for Sconi in the case that the current SKI agreement expires by the 31September 2019 as null and void.

I would also suggest that as they are drilling as rapidly as possible the stage 2 extension drilling (12,000 ft of drilling) this quarter at Flemington rather than conserving cash means that they have also have partners who are interested in Flemington.

So I would suggest that that the AUZ Board and Management will at least if the current SKI agreement does expire null and void at the end of September will be able to also announce at the same time that AUZ have received unsolicited offers from the following companies X Y and Z and are proceeding accordingly with discussions that will conclude quite quickly on a tie up.

If you are a Japanese, American or European Company who are you going to most trust to supply your 30 years supply of heavily in demand Nickel and Cobalt Sulphate - (and perhaps Scandium) DRC, a consortium lead by the Chinese in Indonesia, an increasingly politically unstable Philippines or gods own country where there is stability a good government and rule of law.

The reality as you can see with Volkswagen and their multiple 4 or 5 battery suppliers they will ensure that diversify their supplies of raw Nickel and Sulphate material however I would fully expect one of their chosen suppliers to be AUZ with Sconi and increasingly it looms like we have serious interest for Flemmington

So yes I am positive and I think that the "separate" financing will be agreed soon after September 31st after new binding of takes are quickly agreed either individually with several different well known parties or a consortium of separate parties of battery producers, metal suppliers, and or car companies.

Clearly I suspect (remember the jury is still out till 31st Sept ) that SKI has been a mistake and a steep learning curve for Ben who appears may have mistaken Korean hospitality for integrity.

In my experience the Koreans tend to over promise under deliver i.e they say they can do everything to get what they want and then run around trying to figure out how they are going to deliver what they have promised. Like the Chinese they like to integrate and have some or total control vertically via shareholdings in their supply chain. "Partnerships" and Legal Agreement are fine as long as they are working only as long as they are working in their favor and they are 'top dog'

Japanese and European tend to take a lot long to get agreements however they make much firmer partners are understand partnership.
Americans are purely run of law.

So in summary if we get to Sept 31 with the SKI agreement ending null and void I believe they will be ready to announce 'unsolicited' interest from X Y and Z parties and binding off take agreements to be signed within 30-60 days thereafter.

I mean for the large and experienced entities that AUZ may have received such unsolicited offers from, who have very experienced staff and lawyers and much experience, how long does it take to agree and sign a Long Form Off Take agreement (certainly not 18 months !!)

So I think its 'bye bye SKI' - (Beefarmer have you got a poem for that)

Stay positive, Sconi will be mined and we will get great partners, stay positive. GLTA Thai

Expand

SKI have clearly let this deal drag on into a falling market, and AUZ have been losing more and more leverage as time has worn on, gone by (whichever), this has strengthened SKI's hand and weakened AUZs'...... it's not difficult to understand........SKI are not a charity for AUZ and they were always going after every ounce they could get.

I do believe there have been some "rose colored" SKI posts put up on this forum. SKI were always going to serve their interests first and foremost.

The market realities have just worked counter to AUZs' best interests and the SP has been smashed, so regardless of who AUZ deals with for funding, the MC has been damaged badly, and really, it is a bit of a shit sandwich right now.

But as we know there are factories coming, I'm staying positive .... what other option is there.

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