Ann: December 2021 Quarterly Report and Appendix 5B, page-20

I see this one as a bit of a takeover play. AUC have a large landholding around 4000 square km at Katanning and are slowly and steadily building a large resource base. IMO companies like RMS, WGX, GOR, RRL etc will sit back and let AUC do the leg work and take the drilling risk etc. Then, once AUC has reached critical mass (and become attractive to these predators), one of them will make a bid. IMO AUC's ground will be attractive to these larger producers since the landholding is large, well mineralised and relatively underexplored and it would open up a whole new growth avenue for these producers.

My opinion only, DYOR.