Caught up with Brad in Singapore yesterday. The issue with the...

Caught up with Brad in Singapore yesterday. The issue with the convertible debt was weighing down the share price and, more critically, it was tying AUN’s hands. Getting rid of the note was a game changer – without it, they were pretty much stuck. They went with the raise the moment they were out from under the note.

The capital raising is all about boosting cash reserves for drilling programmes at Sandstone. Brad's all in on extracting gold from Sandstone and it's clear he's putting a lot of thought into how to do that efficiently and economically. He's keen on leveraging every bit of the existing infrastructure at Sandstone. Sure, some of it's seen better days, but like Brad points out, if they can use much of it, which gets them halfway to getting their plant up and running.

He's also pretty smart about striking deals for equity in exchange for drilling, which keep costs down. And there's chatter about toll treatment for other local mines down the road. Luckily, most of the gold in Sandstone is free milling, which makes the processing simpler and helps keep the all-in sustaining cost on the lower side.

Feels like AUN is on the right track, making the most out of what it has and keeping an eye on the budget, all while pushing forward toward gold extraction at Sandstone.