I'm thinking the next AUC report released will be a substantial resource upgrade. They have sent in a considerable quantity drilling samples which are due out very soon (June). Either they are inline with previous estimates, which will initiate a resource upgrade, or they are even more remarkable and feature in a market sensitive announcement based on significantly higher grades. The thing about AUC is they have a huge resource area with shallow ore concentrations and close access infrastructure. Their MC is only $81m which on a comparable scale to other companies with similar resources is probably a third of what it should be worth now. The AUC story is about to get a whole lot better IMO. Not sure how much cash they have left, but a CR won't be an issue if they're re-rated anyway. Surely they will be on the radar soon for a farm-in deal or take out. Let's hope.
AUC Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
