AUC - AusGold Limited

[Joe Blow]

Ausgold Limited (AUC) is an Australian based gold and copper exploration company with approximately 17,500km² of tenements. These tenements cover a range of mineralising systems in known and emerging mineral provinces throughout Australia where potential exists for new gold and copper discoveries.

 

[Bigukraine]

Ausgold Limited (AUC) is an Australian based gold and copper exploration company with approximately 17,500km² of tenements. These tenements cover a range of mineralising systems in known and emerging mineral provinces throughout Australia where potential exists for new gold and copper discoveries.

On to this one joe, 52wk low near buy price jumped in with news on the horizon and near sandfire and richmond mining, has other projects leases as well and around 8mill in the bank. will hold long on this one and see what may be !!

 

[panikhide]

On to this one joe, 52wk low near buy price jumped in with news on the horizon and near sandfire and richmond mining, has other projects leases as well and around 8mill in the bank. will hold long on this one and see what may be !!

This one just went from low to high - just passed its 52wk highs and doubled from 15c to over 30c in the last week on high volumes. AUC have a lease located in the vicinity of against SFR's TLM's and CYS's, all of which are attracting interest. LSR is also a neighbour.

 

[dcc@chambers.id.]

anyone know why Ausgold has been sliding when we are expecting apparently positive drilling results?

 

[metal_loz]

AUC has been experiencing a high volume of trading these past few weeks on the back of the THX discovery. Drilling results should be out next week along with the results from its neighbour CYS (currently in suspension awaiting the release of an announcement).

There's been quite a bit of price manipulation and I think it is due to bigger investors trying to accumulate. The exciting fact about both of these companies is the large number of shares held by the top 20 and also the very low market capitalisation-great deal of potential for growth if they get a few good hits in initial drilling.

Closed at $0.30 on Friday, up from a low of about $0.235 in the same week.

Bought in at $0.24 and believe it has alot of potential, especially with the $8mill sitting in the bank to fund further exploration. This will limit the need for a capital raising in the near future.

Keep a close eye on these two next week

 

[Investment man]

Does anybody know why the detailed gravity survey Over the jenkins fault at the doolunga station project results are taking so long to be published ?

Also what is the general feeling for investors about this share?

Regards

Investment Man

 

[bennywizard]

Awesome news! new to this one, I got in at 85c thinking it would go up over time but wow 50% in a week!
Does anyone who has been following this one have ideas about its longer term potential?
They have a large area of land to explore, was this recent find something extraordinary brilliant? If they repeat this again what will this mean?

 

[bennywizard]

Boddington South Gold Project

Another great drilling report for the Boddington South Gold Project...more results expected later this month, new highs today...cant believe there is not more interest in this one!

BODDINGTON SOUTH DRILLING RESULTS
LENGTH OF JINKAS GOLD MINERALISATION NOW EXCEEDS 850 METRES
AND REMAINS OPEN ALONG STRIKE AND AT DEPTH
• New true-width intercepts from the Jinkas ore body in the Company’s Boddington South Project
include:
o BSRC0025 - 12m @ 10.05 g/t Au from 93m
o BSRC0029 - 28m @ 4.08 g/t Au from 97m
o BSRC0036 - 6m @ 12.63 g/t Au from 102m
o BSRC0038 - 15m @ 3.68 g/t Au from 75m
o BSRC0020 - 8m @ 5.57 g/t Au from 94m
o BSRC0033 - 3m @ 15.71 g/t Au from 90m
o BSRC0028 - 6m @ 7.65 g/t Au from 107m
o BSRC0027 - 22m @ 2.10 g/t Au from 96m
o BSRC0026 - 16m @ 2.54 g/t Au from 89m
• Gold mineralisation continues to remain open along strike and at depth
• Second RC drill rig commenced

 

[drillinto]

November 23, 2011

Ausgold Loses Its Chief Executive, But Not Its Focus On The World Class
Katanning Gold Discovery

By Our Man in Oz
Source >> www.minesite.com/aus.html

It would be exaggerating to call Benjamin Bell a A$20 million man, but that is the value the market appears to have put on the recently departed chief executive of Ausgold. His theoretical value to the company, which has made what could be one of Australia’s better gold discoveries of the past 10 years, can be calculated by comparing the company’s share price on the day Ausgold announced Ben’s departure, A$1.38, to its recent price of A$1.15.



That A23 cent decline translates into a slide in market capitalisation of A$19.7 million. What’s more the price of gold since Ben quit on October 18th has risen by US$145 an ounce, so in theory the company’s share price should have gone the other way. But these are uncommon times on equities markets. In the circumstances, Minesite’s first question to the man who has inherited the running of the company was a natural one: “Apart from losing Ben has anything changed at the company’s Katanning gold project?”



“No change”, was the firm reply from Bob Pett, who has been called up from general duties as a director of Ausgold to the role of acting chief executive. “We will be sticking to the program that we worked out together before Ben left. I was involved then, along with the rest of our team, when we planned a very extensive drilling program that was put together hole-by-hole, so in that sense it is business as usual.”



For investors, especially newcomers to the Ausgold story, those comments from Bob are reassuring, for two reasons. Firstly, because he knows what he is talking about as he boasts one of the more successful track records in the Australian gold industry for discovering, and developing mines. Secondly, because the Ausgold project at Katanning is starting to take shape as a world-class discovery, which is much bigger than one man. Taken together that means the sell-off in Ausgold was very much a knee-jerk reaction to the sudden departure of a chief executive, especially one who did little to promote the stock and generally avoided contact with the media.



With Bob in top job, at least until he finds a permanent replacement, that minimal-promotion policy will change, because if there’s one thing he understands it is the importance of a high share price, especially when it comes to funding a big exploration programme. And the work at Katanning is certainly that. “We’ve got five drilling rigs on site now, with a sixth expected to arrive in the next few week”, Bob said. “It must rank as one of the bigger exploration projects underway in Australia today, but the results we’ve got so far certainly justify the A$12 million allocated in the current round of drilling.”



Even so, the market is impatient for assay results, a fresh resource calculation, and disturbed by the sudden resignation of Ben. But over the next few months those issues will fade, though, which is why the recent sell-off should be seen as an opportunity for investors to buy rather than a reason to sell. Because whichever way you analyse Katanning it is big, and getting bigger.



Over time, and depending on drilling success, the discovery (or re-discovery to be more accurate) of the geological structures cutting across Ausgold’s tenements in the south-west of Australia could be comparable to the 26 million ounce Boddington gold project of Newmont, which has certain look-alike characteristics and is located 100 kilometres to the north-west.



Comparing Katanning with Boddington earned Ausgold an early chiding from Minesite’s Man in Oz, largely because the overall tenement package was named Boddington South, which seemed a bit like using South Brussels as a name for Paris given the similar distance between the locations. However, that modest rubbishing taught Minesite’s Man a small home truth about Ausgold. The man who called to explain what’s afoot at Katanning last year when Minesite made the Brussels comparison was Bob, not Ben. What that says is that the man in charge today was really the man in charge back then, even if Ben had the title and key to the executive bathroom.



Reluctant as he might be to get back in harness as a day-to-day executive, Bob brings 27 years of mineral development experience to the job, plus the successful development of 10 mining projects around the world, plus training as a minerals economist. That final gong, earned as part of his Masters degree from Queens University in Canada means that Katanning (or Boddington South, depending on your level of enthusiasm) is in the hands of a man more interested in making money from mining than turning Australia’s south-west into a colander by using expensive drilling rigs.



At site, those drilling rigs are pursuing a number of targets, with a view to fine-tuning the geological understanding of twin mineralised structures, the eastern and western corridors. An orebody on the eastern structure, Jinkas, was mined with minimal success in the 1990s when the gold price was struggling to rise above US$300 an ounce. “We’re currently drilling out 4.25 kilometres of strike along the eastern corridor, through Jinkas and north to the Neighbours structure”, Bob said. “We’re doing that on 80 metre fences [lines of drilling 80 metres apart], with deeper holes at a number of locations. The deeper holes will tell us what’s happening deeper in the structures.”



News flow from Ausgold will accelerate over the next six months as assay results are received and the Katanning project moves towards a fresh resource statement. Whatever that resource number looks like, it will not be the end of work at Katanning. Rather it will be just the start, as future drilling targets are now being identified at the northern and southern ends of the eastern and western corridors. The distance between the Lukin prospect in the south and Jackson in the north stretches 18 kilometres, and while it would be unrealistic to expect economic gold along the full distance, that is a factor that cannot be discounted – especially given that the 18 kilometres of future drill targets are located within more than 150 kilometres of previously unmapped Achaean-age greenstone, a type of rock which has hosted most of the gold that’s ever been mined in the south of Western Australia.

::::::::::::::::::::::::::::::::::::::::::::

 

[springhill]

AUC has taken a loooooooong slooooooow tumble down a very big hill from its highs 9 months ago.

Any gold enthusiasts have any ideas on why, or who would care to take a look?

There seems to be a long period of drilling, drilling, drilling with no project advancement beyond that.

Cash burn is a problem, they may only have enough coin for another quarter, so a CR is imminent.

 

[mr. jeff]

I would put it in the basket of other explorers such as GOR and ABU - promising, not producing.

Combine this with management question marks and you have enough to steer clear of whilst searching for the next Regis or Silverlake.

I know little about AUC, have been in them before during the gold excitement but have not looked for a while. Intercepts posted look reasonable. Have they got a JORC resource yet ? Are there any nearby producers who can jump on them or combine forces ?

 

[burglar]

AUC has taken a loooooooong slooooooow tumble down a very big hill from its highs 9 months ago.

Any gold enthusiasts have any ideas on why, or who would care to take a look?

There seems to be a long period of drilling, drilling, drilling with no project advancement beyond that.

Cash burn is a problem, they may only have enough coin for another quarter, so a CR is imminent.

I would be guessing (and yes I do that too often) the long slow fall may be due in part to the fall in Gold price.
If I knew how, I would check the chart against the gold index!

 

[springhill]

I would put it in the basket of other explorers such as GOR and ABU - promising, not producing.

Combine this with management question marks and you have enough to steer clear of whilst searching for the next Regis or Silverlake.

I know little about AUC, have been in them before during the gold excitement but have not looked for a while. Intercepts posted look reasonable. Have they got a JORC resource yet ? Are there any nearby producers who can jump on them or combine forces ?

According to Investor Presentation JORC is due 2H 2012.
Not sure about nearby producers but they are making a link to Newmont's Boddington 'only' 190km away!
http://www.asx.com.au/asxpdf/20120418/pdf/425p5xvh5sm25j.pdf

I would be guessing (and yes I do that too often) the long slow fall may be due in part to the fall in Gold price.
If I knew how, I would check the chart against the gold index!

Dont know how to post AUC and POG on same chart, but here are the 2 charts on same timeline.
While gold has recovered slightly in the last month, AUC has continued to fall away.

 

[mr. jeff]

...And the promised chart

That is my thought on the topic.

The market says gold is going down with the global economy so steer clear of explorers.

 

[springhill]

Ausgold's CEO has sent a letter to shareholders regarding his vision for AUC's future.
http://www.asx.com.au/asxpdf/20120625/pdf/4270pt69dxy3qj.pdf

 

[burglar]

I have trouble maintaining excitement in a falling market.
The CEO's letter was interesting.

But the SP is still falling:

$0.41 last today, I believe this equals the 52 week low.

 

[IrishDigger]

Can AusGold go any lower?

On my Watch List.

 

[greggles]

Ausgold have announced that they have successfully raised $2.4 million by issuing 80,000,000 shares at 3c a share in a placement to professional and sophisticated investors. The funds raised will be used to advance exploration at the company's Katanning Gold Project.

They have also recently entered into a farm-in Agreement with Intrepid Mines Limited on their Doolgunna Station Project in Western Australia. Intrepid will have to spend minimum of $2,150,000 over two years to earn a 70% interest in the project.

Ausgold had too many projects for their available resources, so I think the farm-in with Intrepid was probably a good idea. That will enable them to focus their energy and capital on the Katanning Gold Project and any exploration success by Intrepid will just be icing on the cake.

 

[frugal.rock]

I guess something changed for the better mid June... remind me to research this someone?

 

[frugal.rock]

Ended being quite a lot of sideways since last post, until more recently.