auk down, where to from here?, page-11

Perhaps its just laziness in not reading back far enough on your old HC threads, but a couple of interesting bits of info ...

Snowden's (in Perth) valued the Jamapang property at in excess of $10m (minimum value, not market value) back in 1998.

I THINK (tell me if I'm wrong if anyone reading knows) this corresponded to Mispec reporting on a 'resource' (something in the order of 8m tns grading 2.4g/t (0.5 cut off) based on 249 holes totaling 32,000m).

POG was dismal at the time around the $300 mark.

Augur picks up 90% interest in the current license holder over a a decade later for around the same valuation price. Either one of my assumptions is wrong, or it will be a good deal for AUK.

The announcement back in Feb 10 said that the IUP licence holder ('Golden') would REFURBISH and RECOMMENCE PROCESSING at a small plant, funded to US$1m by Augur in working capital. It should be up this calendar year if they stay on schedule.

Jampang has some depth, but also some good surface mineralisation. My assumption by joining the dots is that Golden picked up the licences for a song some time after the Asian FC and started digging the shallow stuff and processing it - small play scratching the surface mining for local markets. The capital and profit sharing deal to get the plant processing again is a sweetener, which could be a profitable move by AUK if the JORC confirms and expands the Mispec reports from the late 90s ... the plant could bring in a little bit of cash to the balance sheets but I think the resource itself is the main game.

All just my speculation of course. Will provide an update if one comes through.

Still looks good on the charts ... 5 cents up in four days is a %25 rise on last week - and there's no news out yet. Got to be happy with that.

COLCOM.