They did have a choice to raise around 1.1-1.4c not so long ago but that would of been more of a gamble as RoD was not secured and results of the drilling being a punt....
I agree a few billion shares is not ideal and maybe lifting the price a bit first might of been prudent, but i have total faith in this management of doing the right thing and time was just not on their side, if they waited longer then trading without cash is illegal so they have done what they can when they can and i will take what they are doing as only beneficial to the company....
Raising the $5.5m is already imho in the bag as my broker tried to get some today(six figures) and was told if our orders dont get matched they will get back in touch....A sign of strength ? A big YES imo.
As for inside info, well i would suggest the money are very close to the action and Frank along with some top 20 holders(some sharing the same office as AUL)would know whats going on...
It all somes up to let AUL management have a very big go at trying to unlock the potential of owning a proven tenement and filling their very owned plant and getting to that point of getting cash flow positive to then build on acquiring other assets to work on down the road and if that takes dilution to succeed then so be it, there is just to much now in AUL's favour to move forward from here and create sp appreciation for all invested
Good luck
AUL Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
