Thanks Gipp for a well thought out response. Yes, comparing Sconi and Mt T is probably unfair - Metalica had done a lot of work on it before AUZ bought it in Aug. AUZ is a battery metal play. Their board are Sydney entreprenuers with mining experience. Its a different kettle of fish to the BAR/CNJ JV. They saw the value in Sconi and had the flexibility and money to pick it up. Howeve they are swimming in the same pool, chasing the same offtake partners, battery manufacturers etc. and much the same cobalt capital interest. Doesn't matter its not fair to compare them -you have to.
To answer a couple of your queries, Sconi is 3 hrs drive from Townsville Port in a long standing Nickle province. They truck nickle to port now, cobalt and esp scandium are much higher value. Sconi is very much a cobalt play, plus scandium and nickle and that is now the AUZ immediate focus. Qld is very mining friendly atm and they have their leases in place. There are plans for a battery gigafactory in Townsville!
That said, I am not trying to make the case for AUZ over BAR/CNJ, I am trying to use AUZ as an example of their current competition and why they are running 2nd at best chasing the cobalt interested capital. AUZ is an example of a company making their own luck, by setting a clear plan and running hard at implementing that plan. Until BAR/CNJ show they are doing the same (or jag cobalt user offtake or money) I think their SP will languish. Completely unfair given I think the SS is very promising, but the market is a harsh marker for mining hopefuls. My guess (purely that) is the SP goes down, but will recover some time. There may be better places to invest in between.
That changes as soon as I see a plan that makes sense and is achievable!
CNJ Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
(20min delay)