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AUL

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AUSTAR - Where to from here?, page-18

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vertigo

9,999 Posts.

107

10/08/18

10:09

Post #: 34851912
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Originally posted by aurifice ↑

Kranky
Let’s not get carried away by “a first gold pour”. Any one with a modicum of nouse could have taken a few buckets full of auriferous alluvials from wherever to the Rutherglen state Battery and ended up with a slug of gold.
A history lesson for those who are interested:
Since the cessation of the immediate post war gold resurgence no listed company other than Gold Mines of Australia and A1 Consolidated Gold has succeeded in rewarding shareholders investing in mines in the Eastern Victorian gold fields. The Wright family (at MS and A1)and those ex employees of A1 who bought the mine at auction in the 60s made money but they were small, private operators. We are talking about a company with 2 billion shares on issue and investors expecting dividends. It won’t happen. There aren’t the tonnages to produce the ounces to achieve it. In an earlier life I would have been happy to have a crack at RoD but only as a small syndicate operator. It won’t sustain a company with the overheads of AUL.
You seem to be a bit savvy from a mining perspective but why on earth would you not question the fact that no mill tonnages were provided to produce the 7 ounces of gold they recently announced?
I stated very early in the piece that Stacpooles would not cut it - not because I am a guru but because the operators of the day new what they were doing and left very little. Same with Burns et al. Maxwells has been mined - disappointing.
A cash injection of $5m will keep the gates open, pay wages at all levels, keep the drills turning etc but will not provide for a gold mining operation to support such a shareholder base.
I, and the likes of two or three others who are also non holders, are merely sufficiently interested to contribute our views in an effort to counter the bs perpetrated by the resident cheerleaders.

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Congratulating management on achieving the first gold pour is "getting carried away"?

and you think holders are hyperbolic ones. Hahahahaha

AUL Price at posting: 0.6¢ Sentiment: Buy Disclosure: Held
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AUSTAR - Where to from here?, page-18

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