Ann: Non renounceable rights issue , page-11

Thanks mate....The comments regarding JORC from pangea (or whoever) are insightful. As a general rule a company can do many wonderful things on an excel spreadsheet - lovely formulas and extrapolations that all conform to JORC procedural standards and which generate a resource that meeds the "standard"....or even just to produce an inferred/indicative resources. If you know where to place the drill bit, you can match up a whole lot of dots that make for beautiful reading...

and it can get shareholders all very very excited - technically its all above board - until it comes time to get finance...I think it is why many companies avoid getting a DFS/BFS done - they don't like getting exposed.

And of course, that's when we finally start understanding just why the broader sharemarket has never shared the enthusiasm of true believers, and why share prices are actually where they are at.

I don't know too much about what happened specifically at AUC but I have seen this happen a hundred times before. Still happening at the minnow end of the markets even today as I write.

Appreciate you taking the time to reply. Good luck with your future investing.

Coop