Evening plough. In the past, I was more open to risk, but... I have learned... well... not learned until perhaps the past 5 years that I suck at picking most explorers, unless.... they have very large tenements, are hated, sort of boring but have existing deposits (DEG... being my best pick by a country mile), the rest... hmmph. I guess what works for me buying producers like PRU when the market thought they were basket case. So I am trying to stick with what I seem to have a decent knack for.
Cheers for reminding me about OAU, as I did look at them a few months ago, but... other than Crown Prince, they seem very asset lite (just going off my 20m or so of research), though their tenements are in a good location mill wise. I like that the MD is being so candid about doing a deal, as in... all the old shareholders want to exit, but... they need a catalyst to crystalize such an exit.
If the drill bit proves up the U/G at Crown, then... it could become something worthy of attention, but right now, 20k ounces is just not going to get WGX interested. I wonder if WGX could do a sort of J/V with them (and others), where they earn 50% of the deposit they like, with funding agreements and a structure to acquire 100% etc, versus WGX undertaking corporate action, as.... OAU is tiny. I hope they will do something similar with GBR Ironbark deposit, but of course, smarter minds at WGX know the best way to move on these potential options.
Good luck with OAU, I suppose, I hope they find sister of Never Never!
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