AUC 4.00% 48.0¢ ausgold limited

Great presentation. However, it is very poor form not to update...

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  1. 12,523 Posts.
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    Great presentation. However, it is very poor form not to update us all a month ago about the delay to the drilling plans which are now starting next month (October). Here I was expecting gold assays in the next 2-3 weeks lol.

    I totally understand the delay to the DFS. They want this 19,000m of infill and regional drilling information to be included in the DFS. Which with any potential satellite deposits and good news from the main KGP infill drilling, we could well get a resource 5Moz or higher. Which would make us a major future gold mine entity in Australia and really attract the big fish. These Aussie and international gold producers are now all swimming in money right now, so if this goes to an auction with a sizeable resource post DFS, well, we could get offers over $2 considering how undervalued we are right now for a 3Moz gold resource. It is also very important to the banks and future institutional investors to have accurate and up-to-date DFS details so they can fund accordingly with less risk.

    I am most disappointed in previous management, because this massive drilling program should have already been completed but the previous capital raises were probably all spent on management salaries and lithium targeting bs. From memory there were 3 or 4 quarterlies in a row talking about a large drilling program which never eventuated. Thank goodness we finally have some decent people leading the way now. They just need to be more open and communicate more consistently now.

 
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