No use continuing with something you continue to participate in? O....K.
Again with culture- single country so it’s not all that different for each project when talking about projects in general.
Perhaps use language you know outsiders can understand- it’s all we dummies who need to get behind a project, not a select few. Culture is quite a broad term normally applied to countries, societies or peoples.
‘A bit of research’ pops up a bit so here’s some which may have escaped your attention:
“The Sconi deposits are hosted in laterites which have formed on ultramafic rocks that include serpentinites, meta-gabbros and pyroxenites. These occur as lower crustal material rich in iron, magnesium.” Direct quote from the BFS.
Rich means to have a lot of something. ‘Rich in magnesium’ translates to ‘high levels of magnesium compared to most geological formations of all kinds containing the target minerals’ or ‘high magnesium relative to similar geological formations’ . Rich/poor being a relative thing- I’m rich if I have $1 while another person has $0.50, for example.
There must be a good way to spin that though & I guess rich means poor to those with tonnes of knowledge.
Perhaps the real BFS will somehow show that the geology has magically changed?
That paragraph explained to me why AUZ is spending money in India- trying to invent their way out of that comparably high magnesium. **last 3 words are the breadcrumb for the time poor in the quote below**
“Australian Mines is also collaborating with leading academic researchers at the Amrita Centre for Research and Development in India on work being conducted around the use of scandium in the next generation metal hydride batteries and hydrogen storage applications, a cutting- edge R&D program assessing the potential for scandium-magnesium alloys”. ( note that leading could just mean they are the leading researchers at that facility ).
It took the lithium battery years to start appearing on the consumer market, just for some context. It also had companies like SONY tipping money into it. AUZ’s hoped for battery not only needs to be invented but also refined to a point that competes with other batteries with massive headstarts which are also continually being refined by companies who’s R&D is a sperm whale to the Indian/AUZ shrimp.
If only SK felt the same way mate they might have put in money just as you appear to have. Oh well. You may be right & they may be wrong, but only one side is left dangling in the wind needing to go cap in hand to the market.
Knowledge can be like the forest when looking for trees- if it stops us from considering the subject overall objectively. Deposit, management, cash position. That’s the company. Not just the deposit.
Thanks for prompting me to do some reading as it seems that AUZ only sees their nickel, cobalt & scandium as worthwhile while others look to have quite a few more minerals which show promise as additional credits. ( A greater variety of minerals equals greater insulation against any single commodity price fluctuation ).
Considering the above AUZ could go very well over the long term ( battery research ), or if core base metals ( nickel & cobalt ), pricing explodes again. The question of course is can AUZ survive long enough in its current form to see the day their magnesium can go in to those alloys? Their focus says they hope so. The traditional alloy market ( a funny way to put it, I know, but scandium is already used & already shown to have a use in alloys for vehicle bodies, for example ), can take the scandium so again, why bother chasing a return for the magnesium?
Perhaps because they have relatively high levels of magnesium, as per the BFS.
Others will rely on something closer to what they came for- nickel & cobalt extraction with other minerals as credits which don’t need a new invention to make their extraction economically viable in the current consumer market.
Personally I think they just need more things to go ‘right’ compared to some other hopefuls.
(20min delay)
