The Drop, page-143

Sorry champ, as u refer, but if you want to provide me with your background maybe I should fill you in with mine. I have a Master in Minging Engineering with Distinction attained at the School of Mines In Western Australia  and have worked in a number of  mining consultancy design and management roles including several high profile expansion projects for BHP Billiton including RGP 2 to 4.

That said, I have more than enough experience in the understanding of mining economics and the fundamentals behind developing large  scale mining projects from proven ore reserves.

Where you lack understanding or chose to play ignorant in your initial post is the fact that it is very common for potential offtake partners to enter into non-binding offtake Memoranda of Understanding (MoU) agreements at an earlier stage than a Bankable Feasibility Study where the MoU represents an agreement that a proportion of that companies anticipated production over an agreed timeframe within the life of the mine life be supplied to a counterparty looking to sure up supply in the future.

In the case of Sconi, this will be counterparties who are well established in the lithium ion battery supply chain. The MoU's are used to define certain key terms of future offtake contracts including volumes and pricing structure. As Sconi's BFS is currently progressing and is expected to be finalised and finished in April 2018, these offtake discussions should be taking place now and should continue with relevent parties, and others, with a view to committing a substantial proportion of Sconi's production under future binding off take agreements.

I have every faith that AUZ management are working tirelessly to secure future offtake agreements as soon as possible for the Sconi Project and am very secure in the timeframes that management have indicated in my post above.