Ann: AUZ secures funds to accelerate cobalt and nickel projects, page-318

‘We are producing enough to satisfy ( suffice doesn’t really work there ), 100% of the OT ( the original phrasing doesn’t work )”.

AUZ is producing 100’s or 1,000’s of tonnes of product to satisfy the requirements of the OT at this time? Pretty sure they aren’t. I’m sure that’d require a running mine.

Some are happy to be wrong. Let’s see if that rings true.

I think we can edit that to ‘we aim to produce enough to satisfy the OT 100%’ & assume that someone hasn’t had dinner yet or is digesting said dinner & only has one eye on the screen.

The CAPEX thing is interesting. Could fluffy mean that the receipt of finance may be broken in to stages as we see on many other construction projects? For example ‘ok AUZ, here is $x to get your initial groundworks ( oversimplifying for the sake of illustration. ), done. Once that is done we can then release the next $x for the next stage’.

If not then I can say that I don’t really see what fluffy’s getting at either but understand their reluctance to explain much more due to the hostile forum environment ( not in the replies they received to this today but in general ).

The only thing I can guess besides that is we’re talking about processing trains.
Start with 1 & add another if the business case justifies it. Anything else does sound expensive as has been noted.

Perhaps we can consider where the biggest hits to funding are in the timeline of mine construction. Is it the initial works? The processing train? Tailings handling? If larger chunks are needed early on when a lender or financier can’t be sure that things will work out then we can all understand their caution, if we put ourselves in their shoes.

Especially when they’re looking at a company that seems to have nothing to offload in the time between now & the big spending. ( perhaps that is part of the rationale for some spending on Thackaringa or whatever it’s called? A bit of a contingency plan to reassure the bankers etc? ).

Hope for the best, plan for the worst? ‘We’d love to get Sconi & Thack off the ground eventually but if we need to sell Thack off to get Sconi going, so be it’ ( ? ).