I'm not surprised by the sell-off; it would be more if any...

I'm not surprised by the sell-off; it would be more if any buyers were willing to buy it for a reasonable price.

I further reduced my holdings to just 200K from the original over 2mil, purchased in 2020.

Although I made some small profit, I am very disappointed. I was optimistic and had good feelings about the company.

The share price is at the level I was buying it at, with more than double
of outstanding shares.

In 2020 when the La Demajagua project was picked up, AAU/PG had 7 US$ mil cash, a Market value of 8 AUD million, some equipment to sell and huge hopes for 40ml$ from DR claim. The market was booming, the gold price on the rise, minimal inflation.

It was a no-brainer stock, a rare gem among mostly overvalued stocks.

But the valuation of the company is not as good as it used to be:

share price back to 4c - outstanding shares 415ml ( 195mil 2020)
numerous CRs, despite what Brian promised to shareholders - and another one pending
timing and size of CRs poorly executed
only 1.8mil US$ left
Who knows what's happening with DR's claim
Unjustified company spending, directors' wages, laboratory fees for unaccredited sample testing
Gold price below the initial estimates for the LD project
etc

AAU appears 30-50% overvalued, comparing it to other junior mining companies with better cash positions or better projects.
It will be challenging to find a sponsor for their project as there are many severely discounted companies around who will be competing with them.

Let's put it that way, none of their projects is outstanding. It is still possible to make it work, but they need to manage it better because, so far, they've been failing with poor decision-making primarily.

Let's see what happens.....