Australia's largest stock trading and investment forum Australia's #1 stock forum

AUL

Click for more information

0.00%

28.5¢ austar gold limited

Ann: Maiden Inferred JORC Resource for Rose Of Denmark Mine, page-38

First 38 Last

Share
Profile

Follow
Tumby

3,988 Posts.

601

30/06/19

12:36

Post #: 39306936
Share

Originally posted by Krum: ↑

MCO shareholders:

So I thought I would reread this release to really start to understand it.

So I’m not even off the front page and not even into the drill spacing and QA stuff to figure in my own mind how confident it is.

And I see the comment that RoD is wholly owned by Austar. Incorrect. Is this an intentional or unintentional lie? And by who? Who wrote the release or bits of it and who approved? The JORC Geologists did the geology input and sign that off so become professionally responsible.

But who wrote and accepted responsibility for other conjecture. As TdV is the name on it then he is responsible but he Co Sec actually puts it onto ASX and has responsibility to ensure the Co follows ASX rules.

Who puts positive spin words in the release and who approves? If the Chair or broker want spin does their employee the CEO have a say?

So the issue of RoD ownership:

It’s AUL own 95% of MCO with the other 5% owned by yes those horrible MCO shareholders who post here.

And they still own 2.5% of RoD (was 50/50 with MCO Shandong etc). This is all in JORC Table 1 so how is it wholly owned on Front page and not wholly owned in Table 1. What else is being misrepresented?

Why is this an issue?

1. If TdV gets these obvious things wrong then what about the crown pillar strength?

2. Who’s pulling the Announcement strings and thus what else lies or misrepresent?

3. What about MCO shareholders? Is there a JV with them. Why was the agreed deal with them to offer to buy them out for cash and MNM paper never finalised?

We did that deal in exchange for buying MCO not its mine assets. This kept the tax losses available to depreciate (value?).

Not done by BB et al. Grandly pissed off MCO holders who now post here and no that mine well.

But biggest issue - MCO holders own 5%. Do they pay cash calls? Do they share revenue? Is there a JVA.

Does that lead to litigation? Who are the MCO holders?

Who did that deal (I did it with Nick Garling who was MD but also almost largest SH. He and dad founded MCO and both Syd lawyers.

Is this a risk? Is it managed? Do AUL mmt even know?

my Agreement with MCO was buy it from Admin, they copped 20 to 1 dilution to 5% and MNM but the 5% basically with MNM shares and options.

Clean 100% ownership of MCO assets incl Tax losses maintained

2000 new positive shareholders in MNM

Immediate Rights issue to now 4000 Shs

Hmm now to page 2 of the release.

Expand

If you ever move around in the stock broking jungle it is common to hear that mining start ups and exploration companies referred to “as a hole in the ground owned by a liar”. I tend to take a more subtle view that most of these companies are spruiking more silver lining than available silver / or Gold as the case may be. Im not saying that this company is dodgy orvanything but more of an industry wide trend of trying to make silk purses out of sows ears.
I have faith in the current operation here as long as they do not do anything STUPID and ill conceived.

AUL Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

PNN

Power gets set for 1000-metre maiden drilling program in Brazil

Quit before you're fired: Russia bans uranium exports to USA, duplicating extant US ban

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

US election outcomes: Key economic and market takeaways

First 38 Last

Add AUL (ASX) to my watchlist