AUL 7.25% 32.0¢ austar gold limited

Ann: AuStar Gold acquires full control of Rose of Denmark mine, page-66

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  1. 568 Posts.
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    In the announcement on 12th April (over two months ago) it states: "Processing will commence from April 18th on a rostered basis, where the number of processing days can be increased depending upon supply of the development rock from the Stacpoole zone."
    In the quarterly report drafted on 30th April it states that the development of the Stacpoole zone is being done on a 7 day a week roster (day shift only).
    The processing plant is in operation and is available to process all material that is mined from Stacpoole and Rose of Denmark.
    Then way down the track on 31st May we see the maiden gold pour that is not quite was I was expecting to see. If that is all that they can muster up in six weeks of trial mining, it seems to me (IMO) that the 100% acquisition of RoD was done because Stacpoole has not proven to be financially viable as indicated by Aurifice.
    I hope to be proven wrong. All IMO.
 
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