Yet more misleading verbiage from Old Vert. There are NO properly defined ECONOMIC resources at MS, RoD, Maldon and, I would proffer, A1 that will sustain a profitable operation over at least two years of continuous operations which would be a minimum time span whereby a degree of investor confidence would be generated. In A1’s case they spent many, many months preparing a long hole stope for mining at a significantly greater cost than what they recovered in gold sales. It can be common practice to expend large amounts in development and mining for the purpose of being able to announce a honeymoon period of profitable gold sales with the market not taking into account the previous costs leading up to those periods of apparent profitability. There is no point in regurgitating the FACT that these are low tonnage, medium to high grade fissure vein mines (not too familiar with the poorly performing Maldon mine) that do not enable an operator to economically carry out the necessary exploration to establish sufficient resources for guaranteed continuity of profitable operations.
AUL Price at posting:
31.5¢ Sentiment: None Disclosure: Not Held
