That is just a completely facetious thing to say M66.
You do understand what a potential $5 mill plus in the coffers will actually do yes?
For one, it will provide secure employment to the drilling, mining and processing teams that AUL are currently utilising which in itself will provide a significant level of confidence (considering all would be aware of the lack of $$$ in the coffers at the moment)...without these teams working as hard as they are...no gold would ever be extracted.
Second, it will enable AUL to move to a full time operation with an increased level of continuity. Again, these people are looking for not just secure employment...but also preferably full time roles...AUL will now have this flexibility as an option.
Three, it will enable some cash to be freed up to continue drilling other targets whilst also processing known targets. Drilling has been limited to date due to cash restraints...being able to put on another drill team let's say or drop a few more holes into the dyke bulge or Maxwell's or Stone's to prove up fresh targets with more confidence. Actually it could reduce cost over time by creating more selective areas in targets, etc.
Four, for the first time since the current management took over responsibility of MNM/AUL, they will have a reasonable amount of cash without major debt - this is a first. They can now use this cash to really ramp up drilling and production having major ownership of both MS and RoD mines, a working/operating processing plant, an experienced geo/drilling/mining/hauling/processing team in place and have poured their first gold bar.
This Company for mine has turned the corner and whilst there is plenty of work still to happen...
...I feel they are in the best cash position to extract value from MS and RoD than any other time in the past...
...the fact that they have moved from explorer into production (albeit tonnage to gT need to be confirmed/extrapolated and commercial viability ensured)...they have achieved what some 90-95% of ASX explorer minnows never achieve...
...and usually go bust before they do...the ASX is littered with failed minerals/metals explorers that never ever produce anything...
...AUL has already proven they can and have...exciting times ahead for mine.
Cheers The K
AUL Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
