Correction to the typo on expected news flow.1. Oversubscribed...

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Newbie2015

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25/02/19

19:26

Post #: 37561988
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Originally posted by Newbie2015: ↑

Hi Thai, appreciate your thoughts and agree with your assessment on project economics. The recent drilling results has eliminated the need for Kokomo ore to be processed in the early years of the project. This will reduce the opex due to savings In trucking ore for 80kms before hitting ROM and capex as the road to transport the ore can be delayed.

After being very disappointed myself with the cap raise, i have realised its a small number of shares in scheme of things . They are only looking for $5 million and max $10mil. This won’t get them far. Bergen was canceled as the BOD was of the view it wouldn’t be required. I think the unforeseen delay forced them for a small cap raise. The reason for canceling Bergeen still stands hence only $5 million
The long form contract is expected to be completed in March quarter and revised BFS In APRIL which means SKI sre not waiting for it to finalise the contract.

A prepayment has been mentioned by the company
which might have been a requirement from NAIF and the banks to get the structure of funding correct. Likely reason SKI didn’t exercise the options as they can get discount by offering the prepayment (return on capital for SKI) . Lets not forget they also answer to their shareholders.

My reading between the lines is that the long form agreement is 99% completed for AUZ to say March Quarter completion. Finance is said to be well advanced which may be pending long form contract execution and likely to follow in weeks after long form agreement.
In terms of news flow, my expectations are

1. Oversubscribed capital raise of $5 million with rejection of more than $5 mil
2. Updated Ore reserves due anytime March
3. Long form contract completion March/April
4. Funding finalisation in April/May
5. Hopefully Scandium offtake somewhere in Q2
6. Investment decision Q2 20
7. Construction to commence q3 2019
8. Drilling at Sconi and Flemington

I for one am bullish and have orgiven BOD for Bergen and missed deadlines because of the company making drilling campaign. Don’t get me wrong, Cap raise still sucks but necessary evil to stay afloat. All in my opinion of course.

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Correction to the typo on expected news flow.

1. Oversubscribed capital raise of $5 million with rejection of more than $5 mil
2. Updated Ore reserves due anytime March
3. Long form contract completion March/April
4. Funding finalisation in April/May
5. Hopefully Scandium offtake somewhere in Q2 2019
6. Investment decision Q2 2019
7. Construction to commence q3 2019
8. Drilling at Sconi and Flemington

Number of shares on issue needs to be addressed t some stage as well .
AIMO. Good luck to all holders.

AUZ Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
10 Upvote

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Correction to the typo on expected news flow.1. Oversubscribed...

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