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 650 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-46228505You mention "
Pre tax cashflow", don't worry about tax for a long time, as AUL bring with it $45 million in tax credits, more than the value of the AUL in the merger.
