Ann: Discovery of more high-grade gold, page-89

Yes Nez, i’d expect that sort of solid increase in the updated JORC estimate for Pickle Crow gold resources that AUT hopefully issues next week.

of particular note is that AUT said in a statement on June 16 all drilling between Sept. 2020 and last month was completed outside of the inferred resource of 1Moz at 11.3 g/t estimated in September.

i don’t have the number for meters drilled since then in hand but i do know its a shed load, and includes any number of high-grade intecepts.

Nez’s posts give an indication but anyone keen enough to have a gander at all the previous exploration updates will find plenty to crow about.

we have a reasonable idea how the SP will respond to the upgraded resource by the market activity last week.

after touching a near 11-month low of 8.0c late June, the SP opened at 8.5c on Monday, rallied to a high of 11.0c on Wednesday before settling Friday at 10.5c, a 19% gain on the week and on decent volume.

part of this gain might be attributed to a spot gold price last quoted at $1808, rallying from $1755 late June.

AUT has said it will also issue with the mineral resource upgrade some details of any refurbishment to existing production infrastructure at Pickle Crow needed to get the processing plant moving again.

taking account of all this AUT’s SP is likely to be well supported in the leadup to and following the issue of the resource upgrade.

AUT chairman Ray Shorrocks is scheduled to deliver a presentation at Noosa Mining Conference on july 15, hopefully with the newly-minted resource upgrade in hand.