Ann: Quarterly Activities & Cashflow Report, page-6

Gold is now A$2530 per oz. If AAR gets to 1 million+ oz then you have a company worth nearly A$3 billion. Mining costs average about A$1100 per oz. It should be lower with AAR since all the AAR sites are close to existing infrastructure. But on a A$1100 per oz mining cost that's about A$1400 per oz left to play around with. I can't see the lot being sold for 21c per share. That's a give away.

The AKN failure has seen them down about $5 million. That is a problem (although they do have the benefits of AKN's resource confirmation) and I hope they don't dilute the shares to replace the cash.