It was pretty obvious to me that when MNM, now AUL decided to by Morningstar, that the project was a dud. MNM missed many deadlines in regards to payment to mco administrator, yet the administrator kept putting up with that crap and giving them further time to find the money to conclude the purchase, it dragged on forever. Why would a seller put up with such nonsense from a purchaser? because they were desperate to offload a worthless project to the only sucker showing any interest. Well its all coming to a head now,last roll of the dice stuff here and the fact that your management are not giving shareholders the tonnages through the plant and the gold output is very concerning. The recent flow of announcements, which have hardly set the share price on fire seems like a precursor to the next cap raise to me.
I will be interested to hear from KRUM when this all comes crashing down, as he is the one who purchased Morningstar for mnm/aul. probably try to blame current management, but the reality is they have been handed a turd and to their credit they have been polishing it furiously, but we all know you cant polish a turd and it is what it is. Dud project selection, just like every other single project that krum selected during his time with mnm/aul.
AUL Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
