i really like AUK's resource and believe it compares very favourably to others such as ROL. When you look at what AUK has compared to others we look very undervalued.
BUT, the ssp has me worried. It was not underwritten. Max. to be raised was $2.1m. With current capital climate and AUK's little known profile i'm concerned that this raising could be a dud.,, that would leave AUK with little cash.
AUK had $157k at end of June. and nearly $.5m going out this qtr. I hope they have had a few takers for the ssp.
Should know by Wednesday. A 50% take up will give confidence. If its quite low, as I expect, sp will languish.
AUK Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
