Gold mineralization doesn't stop, then continue, according to lease boundaries at surface. Thus I think the leases particularly BE/W is a good pickup. Unless there is some big discontinuity like a major off-set which I would expect AUE to have twigged from the stratigraphy of their surrounding leases in all directions and surface mapping. Not sure if they paid over the odds but their success along trend would have been a determinant.
From experience, SH get jacked off with dilution before the riches beneath are proven.* Of course that fits with the general attitude of investors that exploration as valued at close to nothing. I just dovetail with that even knowing better from my minor training in geoscience (Mineral Exploration).
All IMVHO * the exception recently was CMM (Capricorn Metls) but then again they have a track record of doing a workmanlike job and are priced accordingly. Certainly the case with AAR -Astral in their MXR ( maximus) takeover.
AUE Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
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