AUZ appoints specialist advisor for metals off-take
Australian Mines Limited (ASX:AUZ) has appointed Medea Natural Resources Limited in an advisory role, as the company enters into its off-take and financing negotiations for its 100%-owned Sconi cobalt-nickel-scandium project in north Queensland.
The agreement will see the advisory firm assist AUZ in coordinating with several potential off-take partners, which are currently finalising off-take and project financing packages for submission to AUZ in Q1 2018.
AUZ also indicated that work undertaken to deliver the Bankable Feasibility Study for the site by Q2 2018 is progressing. Once the company completes its Bankable Feasibility Study, it will confirm its final investment decision for the construction of the Sconi processing plant.
To facilitate this outcome, the company has increased its trial mining campaign for its demonstration-size processing plant, which is located near Perth in Western Australia.
According to AUZ, the plant is nearing construction completion and is expected to produce commercial-grade samples of cobalt sulphate, nickel sulphate and scandium oxide. These samples will be distributed to the aforementioned potential off-take partners and financiers.
While these developments are positive, it is still early stages for AUZ, therefore investors considering this stock for their portfolio should seek professional financial advice.
AUZ Managing Director, Benjamin Bell spoke on today’s update: “While we have been pleased with the progress of project funding and off-take negotiations to-date, we believe our recent engagement with Medea will greatly assist with the delivery of financing options for the construction of the Sconi processing plant, which will facilitate achievement of first full-scale production from the project in the shortest possible timeframe.”
About Medea Natural Resources Ltd
Medea Natural Resources Ltd is a corporate advisory subsidiary of Medea Capital Partners Ltd, an FCA-regulated natural resources firm with offices in London and Singapore.
Specialising in corporate and strategic advice for developing projects, Medea places a significant emphasis on feasibility study financing, project financing and offtake negotiations.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.