I had a look at the Kordamentha Supplementary Report to...

I had a look at the Kordamentha Supplementary Report to Creditors 20 August 2019 that was on their website.
It seems that the first part of it is the most relevant to AUL shareholders.
For me the main points look like current CTL shareholders lose out. CTL creditors then become the new shareholders with 24,984,926 shares. Centennial (A1) and Maldon Resources (Union Hill Mine and processing plant) become fully owned AUL subsidiaries.
CTL will bring 24,984,926 shares to the merger to become AUL shares and AUL will do a consolidation of 100 to 1 to make 33,903,104 shares plus CR created shares. This will give us a larger stake in the merger which is good for us.

On the money side AUL shareholders raise $4 million plus $400,000 from new investors.

Looking back over CTL ASX releases it looks like CTL was almost profitable.
For example the March 2018 quarter they produced 4,732 ounces and sold them at $1,696.7 per ounce. At that time they were nearly profitable and that was trucking ore to Maldon. If we process A1 ore at Woods Point that will greatly cut down on production costs. CTL said in one report that the trucking costs equaled to one gram of Gold per ton of ore in costs. That by its self should make the A1 profitable but now we can sell Gold for $2,200 plus per ounce! That is an extra $2 million per month.

If we combine four mines they might all have their ups and downs but they will average out and keep the Morning Star plant running full time.

So according to the Kordamentha report if we vote yes to a 100 to 1 consolidation and chip in $4 million plus $400,000 of new investor funds we will get a very good asset. I believe that by the end of the year we should be producing a healthy monthly profit.

With Kordamentha putting out this report yesterday I am guessing that we should have an update from AUL soon. That should give us a more clear idea.

Overall I am happy with the board. I feel that they are working hard to make a sustainable profit. Also with Paul McNally on the board if he is convinced that this is a good plan then I think that we can be re-assured that the board has our interest at heart.

If our shares are suspended until the merger in the third week of October I am not fused. Like Matt said, probably best.