There seems to be a lot of consternation from some non-holders over my absence and really wanting to hear my opinion on the previous couple of announcements. I have been busy as I actually have a life, but I can’t leave my fans wanting, so here it is.
We can start with the recent exploratory drilling which confirmed high-grade potential in THREE different reefs, Kenny’s, Burn’s and Campbells Reefs. With the intercepts of
1.75m at 3.97g/t Au from 27.30m, includes 1.05m at 6.45g/t Au from 28m, 1.55m at 6.18g/t Au from 32.10m, includes 0.40m at 10.20g/t Au from 32.10m
Given what we know about grade up-lift this could be stope grade of 20-40g/t and given the thick intersection, very little to no waste giving an almost identical mill feed grade. This is excellent news and I can see why the company is quickly drill testing this reef to replace the depleted McNallys.
We read on the forum comments “underwhelmed”, but no one posting any detailed analysis of the results, not even the “experts” who know about the grade uplift and benefits of having intercepts larger than minimal stope heights. Strange….
In response to the Quarterly there was great relief from the non-holders that the McNallys reef had finally been exhausted, after calling it was exhausted 18 months prior, they were starting to look particularly silly. So they were particularly excited by this news.
We had one poster demanding apologies, which I am more than happy to lead by his example. All he has to do is apologise on the MBK thread for tricking holders by big noting his “mining experience” into holding from 3c to 1c over 5 years. I, on the other hand I have made no such claims of authority or special knowledge. His ego won’t allow him to apologise so perhaps any certification he has should be stripped like for malpractice for a doctor, although the embarrassment from those that know him in the industry is probably enough.
The plant has been a real pain to get right, but it looks like there is light at the end of the tunnel. Perhaps once it running smoothly KAU owner of A1 (the ASX listed co that one non-holder “expert” claimed would not buy it) could run some of their ore through if it makes economic sense for both parties.
Good to see regional exploration starting up with the targeting of four prospects Leviathan, Wallaby-El Dorado, Bald Hill, Little Comet. One holder in particular who claimed that the reason he was holding was for regional exploration didn’t even make comment about this positive advancement. Strange…
AUL Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
