is there anyone on this form?, page-10

Yeah GoldNut, have been watching the decline of AUC since 30 cents. Well publicised former management problems.

Do not have a JORC, some reasonable grades, but dispersed, very green-fields with a lot of work to do. But there was a director exercising 20 cent options recently, which I thought was optimistic.

When you consider that companies like BAB have a JORC of 3.5 million ounces of gold, and a few more quoted shares than AUC, and their price is 10 cents, then AUC still seems overpriced at 15 cents.

And there are other gold stocks approaching 1 million ounce JORCs by year end, with similar shares quoted, that are 4 to 7 cents, some that will also have half the cash costs of AUC when building a mine.

So, for me, AUC is still overpriced at 15 cents, hence the reason there are few buyers on market.

My fair market estimate is something around 7 or 8 cents for AUC if it can get out a reasonable JORC by early 2013, something in the order of half a million ounces.

Other people will value this differently of course, these are just my rough estimates, and I will continue to watch the stock, because I believe that at the right price, it has some potential.

Gw

Patience is bitter, but it's fruit is sweet.
(Aristotle)