Hotrod, I and friends have acquired Norton from AUL. We are buying an ore sorter which lands in Brisbane mid December. At the time of the changes at Mantle the new Board chose to focus on MStar instead of Norton. This was announced and their reasons were clearly announced. I like to have small low risk cash generators in place to help pay to develop the big monsters. Different strategy. The current Board and Management of Austar are to my mind top notch. All of them are good at what they do. It’s a good blend. Given cash and time the project portfolio at Woods Point to Walhalla is great. But they will need care in the balance of exploration spend in drilling Vs exploration via mining. Most veiny nuggetty VIC deposits require that skill. Tom worked at Stawell when I was part of the owners US team. He knows this approach well and as you can see from his announcement style is not promotional. He calls it as it is. Matt is extremely experienced in VIC also. Rick is an extremely accomplished Geo who is experienced at looking at the big picture. I can’t wait for him to kick in the regional review. Matt and Tom can easily get the mines humming and when consistent cashflow comes to support going to the deeps then they will do that in their sleep. Ian King is not a miner but is an administrator and keeps tight reins on the cash. I don’t know Frank but he worked with Rick. I watch numerous ASX mine juniors and the AUL team are up there with the best as regards VIC underground gold. I hope the gold price keeps up.
AUL Price at posting:
0.4¢ Sentiment: Buy Disclosure: Not Held
