Why so quite, should be buying now, page-10

Well there we go folks,

The gap in the candlesticks chart that I was worrying about got closed today when AOR ended up at $3.48.

I'd never have believed it would happen.
Makes me almost believe in predictive properties of charts.
Instead of them just showing the past.

Where's auntie glen when I need him.
To convince me otherwise.


cheers
kaitie

PS directors still saying don't accept PDG t/o offer.
Latest announcement below

---

AURIONGOLD LIMITED 2002-07-17 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
REPORT ON ACTIVITIES

FOR THE QUARTER ENDED 30 JUNE 2002
(All financial numbers are in Australian dollars unless otherwise
stated)

A STRONG JUNE QUARTER AND ONE MILLION OUNCE GOLD PRODUCTION LEVEL
ACHIEVED

On 27 May 2002, Placer Dome launched an unsolicited takeover of
AurionGold offering shareholders 17.5 Placer Dome shares for every
100 AurionGold shares. This valued AurionGold at $2 billion or $4.51
per share at the time. However, the implied offer price has since
fallen to $3.19 per share, at close of trade on 16 July 2002, as a
result of the significant decline in Placer Dome's share price. Prior
to the offer, AurionGold's share price closed at $3.48. AurionGold's
directors recommend that shareholders REJECT Placer Dome's offer.

Summary of achievements:

- AurionGold achieved attributable gold production of 275,385 ounces
at an average cash cost of $302/oz and total cost of $426/oz for the
June quarter. AurionGold's attributable production for the financial
year is 790,775 ounces at $316/oz (US$165/oz) cash cost and $433/oz
(US$227/oz) total cost.

- The combined Delta Gold, Goldfields and AurionGold attributable
production from all sources for the financial year was 1,017,805
ounces which exceeds the forecast made at the time of the merger of
Delta Gold and Goldfields.

- Cumulative production from the Granny Smith mine passed 4 million
ounces during the quarter and Kanowna Belle cumulative production
passed 2 million ounces.

- Exploration drilling adjacent to the Kanowna Belle orebody has
shown potential for a new mineralised zone to the east of the orebody
as well as a possible high grade depth extension to developed
reserves.

- Ore Reserves and Mineral Resources increased to 7.7 million ounces
and 25 million ounces respectively.

- AurionGold will be releasing its 2001/02 year results during August
with an expected after-tax profit result of $63 million.

- The potential for $8 million of annual cost savings from the
company's Kalgoorlie operations has been identified. This is in
addition to the $15 million pre-tax savings already achieved since
the merger.

- The realised A$ gold price exceeded spot price for the seventh
consecutive year.

T Burgess
MANAGING DIRECTOR AND CEO


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