The announcement really says not a lot more than shareholders could have surmised i.e. they are in discussions with various offtake partners.
My major concerns are
(1) Cash is being burnt and will likely run out this year sometime between July and November is my guess depending on previous expenditure cash burn - if this is accurate a prudent Board would be looking to raise capital April/May. (2) Significant cost of funding mine commencement - they are after a large funding package for the current market environment.
Marcus leaving was certainly a disappointment - I have googled him and can't see where he has taken up another position.
The Board ? - Honestly not sure - we really don't know what happened re SKI - SKI were certainly there for a while (the last 1 month extension gave me hope we were near a deal) then it all went pear shaped ------- what went wrong did SKI leave because they got a better more certain supply deal? Did SKI get worried about the finance of the project?, Did the Board mismanaged the project?
It was nice to get something from AUZ today and I appreciate they can't go into too much detail, but it does look like nothing much is going to happen over the next 4 to 6 months which will no doubt further impact on the SP particularly as AUZ's cash drops.
AUZ Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
(20min delay)