AUG have the PNG project up for sale and the likes of Lihir and placer dome etc, are running the rule over the project. Its forecast to produce some 300000 ounces of gold plus heaps of silver for at least 10years. Production cost are very cheap. about $150 per ounce gold!
The guiness peats group actually owns 40% thru silvara pty ltd and they tried to take over the minorities last year at 10cents. Ernst and young's valuation report said AUG is worth 38-55 cents per share so its no wonder silvara's takeover didnt get up. They actually gave AUG's PNG project a valuation of 18-33 alone! Remember this project is up for sale and that valuation was done at $275 per ounce gold. They have 11 cents per share cash backing also.
Could a lot more upside to come and possible coporate activity. Anybody know more info on this stock??
