Ann: Sconi Off-take Update, page-175

Either way Marcus Hughes came to AUZ to fund its operations.
FMG or not. SKI or not.
FMG was a finance Basket Case in its early years. Its detractors were huge.
The right man at the right time. 


AUSTRALIAN MINES

12:07 16 Nov 2018Australian Mines welcomes new CFO fromFortescueAustralian Mines Limited (ASX:AUZ) has appointed Marcus Hughes to theposition of chief financial officer (CFO).Hughes has 20 years of experience with listed companies, most recently withiron order producer Fortescue Metals Group Ltd (ASX:FMG), where he spenteight years as finance group manager.His involvement with project financing and capital raisings will be a valuableaddition to the executive team.READ: Australian Mines' Sconi scandium oxide verified for phase II scandiumalloy developmentAustralian Mines' managing director Benjamin Bell said: "We have beensystematically building the depth of our executive management team over thepast 12 months and I couldn't be more pleased to secure the services of aChief Financial Officer of the calibre of Marcus Hughes."Marcus' immediate past experience is an ideal fit for Australian Mines, as weprepare to commence our transition from explorer to project developerfollowing the imminent release of a bankable feasibility study on our SconiCobalt-Nickel-Scandium Project in North Queensland.Hughes to take on lead role in funding negotiations"His specific skills in the implementation of project financing and equity raisingswill be invaluable as he takes on a lead role finalising negotiations andexecuting a suitable financing package for the construction of the SconiProject."I look forward to Marcus' contribution to the executive team at this critical timefor the company, including leveraging his experience managing regulatoryauthority compliance, risk reviews and audits."In the medium term, we will also benefit from his expertise in building financefunctions through the initial production phase of mining operations, as well assupporting project expansion activities once operations are established."READ: Australian Mines subsidiary IPO now closed ahead of ASX debutAustralian Mines' subsidiary Norwest Minerals Ltd (ASX:NWM) recently closedits initial public offer (IPO), which raised $6.6 million through offering shares at20 cents.Norwest holds Australian Mines' non-core gold and base metals explorationassets in Western Australia.