AR1 0.00% 16.0¢ austral resources australia ltd

Hey all, I did what any normal person would do and instead of...

  1. 28 Posts.
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    Hey all, I did what any normal person would do and instead of guessing I emailed Austral to get a rough idea of everything going on behind the scenes while we're in a TH at the moment. Exciting news in the pipeline, here's a summary of the responses DJ gave me to a few questions I asked

    1. Lady colleen PFS progress:
    -MET results are nostly back, waiting on a "puzzle piece" prior to market release
    -Drilling at LC has been occuring for the last 2 weeks, positive XRF results, awaiting assays before market release
    -Additionally updating pit shell, using this time to geoup together a large announcement surrounding LC

    2. Dingo EPM regulatory progress:
    -Team is working through this still with Bio Regional Coordinator from DES to get final sign off. hopeful this will be achieved before the wet season
    -Reiterated its an extremely exciting prospect just 13km from the site camp (site camp is actually visible from one of the hills!)

    3. Drifter exploration progress:
    -RIDA (Regional Investment Development Applicant) final approval achieved on Sept 4th (huge as prev owner never got this)
    -Another oxide target popped up in the last 4 weeks that has been the focus, drifter has taken a back seat momentarily.

    4. Lady Annie Oxide extensions:
    -2x options being explored, dive in with a small fleet, cut it all back and mine as much as possible within our ML OR continue trying to negotiate with glencore to explore on theor tenement to see just how big the oxide deposit is.
    -Keeping in mind Glencore cant process oxides a deal "will be done" we just "need the band width to do it"
    -Dan attached a pic of LA ML, the green in the background is the start of Glencores ML (See attached)

    5. Anthill prestripping and production targets:
    -Absorbed costs in Q2/Q3 we werent meant to until Q4, with highest strip ratio moving forward being 2:1
    -Production on track
    -Haulage is well behind, working hard to rectify this, however it is a challenge to find available haulage operators

    6. The next 12 months:
    -Massive 2024 coming
    -Big tenements to watch include McLeod Hill (oxide exiting ML), Lady Annie (Oxide & Sulphide exiting ML), Drifter (Oxide), Maggie Maggie (Oxide), Reddie Creeks (Oxide), Lady Colleen & Flying Horse (both Sulphide targets)
    -Immediate focus, find more oxides to feed the plant (Dans favourite saying), Quote: "I think we've done that, the next 6 months will see us starting to execute that"
    -Following that, LC Sulphides & further resource development

    7. Achievability if 30,000tpa:
    -Quote "really achievable, and with the timeframe I have spoken about publicly, our immediate focus is to close our re-finance, from there we come up for air and focus on the growth"

    Above is obviously paraphrased, with direct quotes noted as such.
    https://hotcopper.com.au/data/attachments/5647/5647046-e864b313b31a4c57656ad53a0126c078.jpg
 
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