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7.25%

32.0¢ austar gold limited

Ann: Production to commence at historic Victorian gold mines, page-43

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jetjono

1,130 Posts.

17

06/02/19

10:41

Post #: 37345835
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Originally posted by Krum: ↑

Jetjono,

I found and acquired MCO and its mines - what do you think the answer is? Do you think I did it blindly or with knowledge, due diligence and sufficient confidence that I could answer your question? I had to convince my Board and others.

If GMA/WMC made it work so well why not. The team at AUL (Tom with Matt and his ex Chair at WRM - Brian Phillips, behind the scenes) are one of the best in VIC nuggety grade.

I have confidence, BUT, they threw the baby Norton out with the bathwater. Norton was my cash cow to fund into MCO. Well now you are all faced with ongoing cap raises until Tom gets into positive cashflow from those nuggety mines.

Its just tougher for AUL now as you now live and die by a single operation and Tom and will fall on his sword or not based on how well he uses his historical expertise.

My view - they will need an ore sorter to make it work unless very lucky to jag sufficient volumes of high grade.

KRUM

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Thank you for your comments, much appreciated.

AUL Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
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