Fair value market cap analysis?, page-91

Vertigo, 30Boz and Aurifice,

Originally MCO had successfully been granted around 8 MLs, 5 in JV with Shandong and MStar and Wallaby on their own. They analysed them all and prior to going to admin they prioritised MStar, RoD and Wallaby and relinquished the rest as lower priority.

Various mine management (not Board) and engineers and geologists had various pet mines and Wallaby is one and yes potential open cut.

All the dykes have potential to be MStar quality based on hanging wall preferential gold within dyke bulges based on sediment folded anticline driven dyke bulges. In some cases the bulge is at surface and sometimes the neck between bulges is at surface which is what old timers found and hence whether that dyke was mined. Modern drilling and geophysics can look through this.

I prefer a MStar deeps access based on RC blind drilling a new second shaft for ore haulage and converting the current shaft system to man/materials. Your calcs are a bit shy as current costs are $10,000/metre fully serviced. Diesel haulage on incline drift is expensive vs electrical vertical winding.

A 6m diameter RC drilled and remote lined shaft will cost $8mill to same depth, take half the time and have zero safety risk.

Mansfield shire has a disbanded waste dump located in a basin valley the EPA shut down and directed them to cap with 5metre of cap material and the shire would love a company to do that. The potential for approval for a CIL plant there is then high.

Where is AULs corporate leadership? An ASX junior miner needs a grey haired elder industry stalwart with vision and connections.

GLTA Krum