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28.5¢ austar gold limited

I think they would have had some seriously good farm in offers...

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03boz

2,701 Posts.

118

02/09/20

15:53

Post #: 47027721
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Originally posted by josimar: ↑

With about a dozen known well known prospects/old timer mines in the tenements they could have farmed out two for cash and still held a 50% holding. Here would still be 10 prospects held by the company but importantly the company balance sheet would be more robust.

Either management know now with the progress being made at MS they don’t need the cash or they know top shareholders are willing to stump up emergency cash if needed.

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I think they would have had some seriously good farm in offers on the table, but with the current cashflow positive potential of McNallys and the successful drilling campaign underway, plus a dedicated drilling team, they have decided to undertake reagonal exploration and keep any potential upside in the company for the benefit of current shareholders.
Another good move by our BoD IMO.

Last edited by 03boz: 02/09/20

AUL Price at posting: 29.5¢ Sentiment: Buy Disclosure: Held
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