Yeah GoldNut, have been watching the decline of AUC since 30...

Yeah GoldNut, have been watching the decline of AUC since 30 cents. Well publicised former management problems.

Do not have a JORC, some reasonable grades, but dispersed, very green-fields with a lot of work to do. But there was a director exercising 20 cent options recently, which I thought was optimistic.

When you consider that companies like BAB have a JORC of 3.5 million ounces of gold, and a few more quoted shares than AUC, and their price is 10 cents, then AUC still seems overpriced at 15 cents.

And there are other gold stocks approaching 1 million ounce JORCs by year end, with similar shares quoted, that are 4 to 7 cents, some that will also have half the cash costs of AUC when building a mine.

So, for me, AUC is still overpriced at 15 cents, hence the reason there are few buyers on market.

My fair market estimate is something around 7 or 8 cents for AUC if it can get out a reasonable JORC by early 2013, something in the order of half a million ounces.

Other people will value this differently of course, these are just my rough estimates, and I will continue to watch the stock, because I believe that at the right price, it has some potential.

Gw

Patience is bitter, but it's fruit is sweet.
(Aristotle)