Ann: AuStar Gold to be acquired by White Rock Minerals, page-10

Phil has finally felt the pressure of a decimated SP and a non productive mine and has Sercombe to the pressures that the role undertakes...

Bought out at a premium is still near half of what people paid for a few years ago and holders will now escape with the volume build...

In the last few tears we were promised much and nothing of material has ever come to fruition...

It is my clear opinion that although Phil was hard working and enthusiastic he just didnt have the knowledge to run a gold mine but more importantly find the gold to supply the mine...

Supplying the mine is and has always been AUL's problem....What has changed now????


Well we have now a chairman that has stepped up that was originally asked to join the board to stop shareholder mutiny, now hes in charge...Dont figure........Now gilly back and it seems all systems go go go......lol

Nothing has changed except that the fact Phil couldn't get SP appreciation and has had to go..There is NO new blood and nothing has changed as far as prospecting and adding value to AUL...

The plant has proved on low feed volume that it is unreliable and just cannot run any extended amount of time without shutdowns(breakages)..Lots of money has been spent upgrading(why should we have been spending money on a pretty unused newish plant)but even if we had the feed the mine is just not up to the work load even if it were given the chance.

Im looking at the price action today and after the pump the price is surely falling down again with not much to sell into, i am sure many have sold out/derisked their investment here and i feel sorry for the ones that bought at todays high(already trapped at a 15%loss)

AUL now will be reliant on a new entity for their future growth as AUL standing alone for SP appreciation clearly has not worked....

Now Vert can promote the new entity as a mid tier gold producer because AUL will never be one standing alone...

For all the hype of AUL's birth it has been nothing but a wealth destroyer for sh's and has been proven that this model no matter how you dress it up just cannot make money and doesn't work....

As i write this the SP is tanking from todays high....I hope many had the opportunity to finally exit this dog before that feel trapped once again