Australian Mines Limited (ASX: AUZ)
Australian Mines Ltd (ASX:AUZ) has a simple but high-impact objective: to emerge as a major global supplier of critically needed battery and technology metals.
It’s hoping to tap into the ongoing energy storage industry and the burgeoning battery-fuelled electric vehicle revolution… for both consumers and investors.
AUZ is doing this by developing two world-class, already JORC’d cobalt, nickel, scandium projects in NSW and Queensland. Each project is estimated to have a mine life of at least 20 years and has potential to provide 95% of the raw materials used in emerging battery technologies.
AUZ isn’t wasting a moment either. Since it first crept onto our radar, the company has been neck-deep in positive news flow.
Our overlooked commodity-gatherer is emulating existing industry giants such as SQM, Rio Tinto and GSC, plus it’s rubbing shoulders with the key customers too — battery manufacturers who need lithium in Tesla’s backyard in Nevada, USA.
By all accounts this appears to be a value-packed peer emulation play, that’s ticking the right boxes, at just the right time.
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AUZ is very much a newsflow-driven story, and the coming days look likely to be busy ones for this ASX junior.
It has a maiden cobalt Mineral Resource and upgraded scandium Mineral Resource Estimate in the works, construction of its processing plant almost complete, and offtake discussions to be finalised. On top of that, AUZ expects to complete its BFS on Sconi by the end of April 2018.
A final investment decision on a full-scale mining and processing operation will follow soon after.