Its not the confidence in the reported numbers per se, Certainly...

Its not the confidence in the reported numbers per se, Certainly not from the mining economics anyway and grades . Unless you are implying some form of fraudulent reporting ? there are more dynamics in play some I have already mentioned . I might also add that the amount of soi is also not exactly small . There will understandingly be much further dilution along the way as the project develops .

Regarding the sell down that has happened in just about every gold stock at present . gold sector has been losing momentum since the end of last year . gold Stocks have mostly been heavily sold down and this was ominous during the FIY , some have had a little bounce and recovered a little but The last catalyst to take the wind off any momentum was the mini flash gold spot crash that occurred at the end of July , which just so happened to have been the second biggest fall in a day ever . All gold stocks from producers down to explorers were heavily sold down and have shown little signs of recovery even though gold quickly climbed back over $1800 us oz , Whilst interestingly the spot price of au oz gold is sitting at $2430 last i checked. Of course cryptos did contribute to shift in sentiment from gold but the crypto story is only a part of this .
In The meantime though . the producers are making record profits but even they have their S/p very range bound

Its clear that the market is has not viewed gold favourably for nearly nine months and at present the sector is strangely out of favour .there still appears to have more head winds ahead . This is just a cycle that gold is going through and gold will surely start its next leg up in the next few months. In the meantime there are many great gold specs out there for those that see a little beyond the next few months and have the stomach and spare cash to invest. Just dont expect those 100 % gains ina day or 2 as those days are long gone not just in the gold sector but accross the broader market.

With regards to AUT . Risk/ vs reward , I believe that reward long mid long term is still more favourable than risk . Especially anything bellow sub10 s/p .

Remember the market is always full of opportunity , Seek and you shall find and be brave when all are fearful !