Rome Burning But CLQ Holding Up, page-118

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Look, Tony. SKI could pull the rabbit out of the hat for AUZ. I grant this possibility. They might. SKI muscle could make it close. I concede this, it is possible, the Koreans are unbelievable workers

But AUZ has have not ordered one piece of long lead time equipment. They have made no cash deposits. I have asked, Sophia says, nothing will be done until after the BFS. There is no mine plan that we know of.. Where they are on finance is murky. They just announced the hire of the guy responsible for the BFS, which is due in June or July and needed for SKI to make a decision on what they are going to do, and for the banks to consider for the loans.

Meanwhile, CLQ has raised 1/4 to 1/3 of the capex in 48 hours, and has four bank syndicates lined up. They are hiring people, they have blueprints, they have a detailed mine plan, they have purchased a camp for the workers, they have leased space for operations, and they have hired people, and more than one. They have long lead equipment on hand. They have a lot of experience building big mines. They have been working on this full-out for over a year, and they have an equity strategic partner who put $80 million in the til over a year ago for the express purpose of getting Sunrise done in the fastest possible time. SKI is not the only industrial conglomerate involved....SKI might be preferable for construction, but I don't think Pengxin is anything to sneeze at, either.

And in the end, because all of Sconi's output is going to SKI, AUZ's speed to production doesn't matter to me anymore as a CLQ holder. Sconi's stuff is not getting into the market. It is going to Hungary.
So CLQ will be first into a rising market WITH UNCOMMITTED METAL.
They only have 20% take-off, remember ?

So frankly the claims of AUZ being "the most advanced project" just made me laugh. It damaged AUZ management credibility with me. And It took them almost a month to correct that stupid check box on their website comparison about the mining license. The claims of being "the most advanced" project were just wishful thinking, puffery. How can you be so sure, when they couldn't execute the most important press release in company history ?

And even now, the claim of being most advanced makes me bristle, even though I concede they might commisssion the mine close to or even a little ahead of CLQ. But this will be by virtue of efforts and assistance of SKI, whose determination and commitment are considerable, but of unknown extent and effect.

Best