AUL 0.00% 28.5¢ austar gold limited

Ann: Norton Gold Mine Joint Venture Executed, page-40

  1. 5,318 Posts.
    lightbulb Created with Sketch. 89
    Not so sure about this JV.

    We're talking $30k which should by all means be pocket money for a company IMO however looking at the current cash flow situation of MNM it could be that there are a few bills piling up from the contractor (Avanti) who have provided contract management services to Mantle for the Norton Gold Mine since acquisition according to today's announcement.

    Anyway a lot depends on the coming CR as MNM states it is only a goer if funds come in as stated today in the other announcement "aims to restart operations in 2015 pending the availability of sufficient financing".

    IMO it is also a bit strange that management want to get funds for a project which has not a JORC as I thought one needs a JORC for a BFS which would give potential investors an idea of possible profit margins.

    sitting back and watching
 
watchlist Created with Sketch. Add AUL (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.