"This is my concern. Currently Morning star is losing money. I...

"This is my concern. Currently Morning star is losing money. I hope the mine becomes cash positive very soon, but there are no guarantees. I have seen no forecasts of what the mine could earn if it ever gets 'to be run well' and I haven't seen any announcements from AuStar management saying when they expect the mine to have positive cash flow."

The following was from the December Quarter financials.

"The Company expects to continue its operations based upon improved operational performance and sales revenues."

That financially quarterly does not give a complete picture of AUL. Firstly production was stopped while installation of an additional Wifely table was installed to increase recoveries. The ore being mined was so high in gold content that some of it was not being caught by the existing single table. If you look at the previous quarter you will see that production was roughly cash flow neutral, with increased production planned for the current quarter, it will be cash flow positive IMO.

AUL have been progressing in a slow but methodical manner over the past couple of years, ironing out the bugs with the mine infrastructure and the plant, being careful with cash spend trying to do as much as possible from mining cash flows, AUL shareholders have taken the dilutive hit taking the project from cash negative to positive, there have been many improvements, from the winder, to mine development, to diesel generators, to pre-crushers, to Wifely tables, to concentrate circuits. the list goes on an on.

There are two mines, a non-JORC compliant 11.2g/t 726,000 ounces at Morning Star, The start of a mining inventory at Rose of Denmark 40,249t @ 6.00 g/t for 7,763 ounces.

Also highly prospective 670 square kilometre exploration tenement area, the extensive land holding which comprises of pretty much the entire Walhalla to Jamieson gold district within the Victorian Lachlan Fold Belt.https://hotcopper.com.au/threads/excellent-potential-for-a-3-4-million-ounce-resource-base.5531600/#post-46228505

By the sound of it they are mostly interested in the regional exploration as an Alaksan off season news flow source, and given that TSX listed Fosterville South is $130m MC exploration play and have pegged ground around AULs tenements to try to get as close as they can to AULs pegging if the Woods Point Dyke Swarm, a pretty cheap one, given they get essentially the whole company for free after $45m half priced tax credits.