The problem is that these grounds always hold the promise of as yet unreaveled riches but history shows that over many decades nothing has been revealed. So spruiking the ground won't necessarily rope in new investors.
From back in the MCO days I was confident something would be found but those old timers certainly picked clean the richest loads and any new large discovery remains elusive. With the benefit of hindsight I now believe that todays wages, oh&s, company structures etc mean that only a very lean, small private outfit MAY be able to make a go of it.
I think even at todays gold prices AUL faces an uphill task to raise significant funds. The company has done itself no favours with the lack of information re current activities and cash flow.
I really believe this is the beginning of the end and don't hold out much hope for a return to shareholders.
AUL Price at posting:
24.5¢ Sentiment: None Disclosure: Held
