Dear Fellow AuStar Gold shareholders,
Philip Amery here, Chair of AUL.
AuStar Gold's board is aware that the company enjoys an active investor discussion group here on "Hotcopper". The forum appears to exchange a lot of information and opinion, some well considered and some less accurate.
AUL is looking forward to an important half year ahead. In the board's view, 2019 has more than proven concept and demonstrated that substantial, high grade gold bearing structures remain to be found at Morning Star. The potential of our cornerstone asset is far from exhausted. Notwithstanding some challenges, outlined in the company's reports, the business has safely and effectively brought Morning Star back on stream as a continuous mining operation, delivered some months of positive cash flow despite limited tonnes and progressively ironed out difficulties in the business. This progress has been particularly apparent over the last 3-4 months. Shareholders can be confident they have a very hardworking and committed team at all levels of the business, led by a confident and motivated board and executive.
I accept the fact AuStar Gold's engagement with its loyal shareholders can be improved. The business going forward will be ensuring that monthly operational updates are regularly released. AUL will also be holding two shareholder briefings in early March, on the 4th of March in Sydney (hosted by my fellow director Paul McNally) and on the 5th of March in Melbourne (hosted by myself). On the 11th and 12th of March an investor site visit is also being scheduled. I'd ask any shareholders interested in attending one or more of these events to email me at
[email protected] for details.
I'm also pleased that Paul McNally has accepted my request to make himself available on this forum to assist in answering shareholder questions, where appropriate. Paul will make himself available the week commencing the 9th of March, for one week, and do his best to field questions, comments and suggestions, with the proviso of course that no information can be provided that has not already been put into the public domain by the company. I have asked Paul to limit his engagement to participants who are current shareholders of the company and to collate questions and suggestions that are particularly useful for the board, to enable the company to improve its regular reporting to shareholders.
AuStar Gold hopes that these initiatives, amongst others, held to improve shareholder engagement with the company and ensure that you, our owners, are kept well appraised of progress. As always if any shareholders have questions myself and other members of the board are happy to field them. Direct phone numbers can be found at the bottom of our ASX releases.
Regards,
Phil
