The presentation certainly hasn't set the market on fire.with...

The presentation certainly hasn't set the market on fire.

with spot gold trading at $1792, the macro backdrop shows gold remains in a downtrend from a $2063 peak in July. That's a 13% decline and one that would take the shine off anything.

AUT's 45,000 meters exploration is proceeding with the last report to market almost a month ago. This contained a number of partial assays. It's a fair to say the next report is imminent.

results to date include some high grade assays, most of which are fairly narrow. And these high grade intercepts are far from continuous, popping up here and there, and some deep in the belly of the Earth.

most of the other intercepts - what there are of them - are fairly ordinary and don't inspire.

it's fair to say the current drilling campaign has shown hints of running into a hoped for motherlode particularly in work around shaft #3 but hasn't yet turned up the unequivocal full monty, which still can't be ruled in or out.

the upshot of this consolidated picture has sparked a selloff on pretty solid volume, last at 9.7 cents a fall of 16%.

AUT rode a superb wave through the first half of 2020 but that petered out. Thus far it's actual work hasn't matched the earlier hype and the SP is down more than half from its mid-2020 high.

with results from well over half the planned exploration still to come there's plenty of opportunities still for outsize gains.

i'm still well up on my total investment having averaged up a couple of times in the 2020 second half but on drilling results thus far i'll just sit tight.