I’m betting that there are a lot of punters that were invested in Aul for the potential contained in the large gold tenement package. Which is virtually a whole goldfield bar one goldmine. Which is an extraordinary occurrence in itself.
The simple plan at Aul was to make enough quick and easy money out of mining in the top few metres of the Morning Star mine (the sections that were overlooked by previous miners) or raise capital at good prices in order to competently explore the vast tenement package with its numerous walk up targets.
Aul was not able to achieve that objective. And they rejected joint venture offers for their tenements.
The amalgamated company should be able to raise capital at decent prices at the end of the Alaskan drilling season for the purposes of either funding the expansion of the Morningstar mine, restarting development at the Rose of Denmark mine or embarking on a well funded exploration of primary targets in the tenement package. Or possibly achieve all three objectives.
These are good times to be hanging onto these stocks to see what they can achieve in the next twelve months.
WRM Price at posting:
58.5¢ Sentiment: Buy Disclosure: Held
