AUZ can be viewed in three ways, in my opinion. Firstly as a long term speculation, secondly as a charter member of Battlers Anonymous and thirdly as a stock which is regularly manipulated by some traders with large trades for small percentage gains.
They mine nickel and have found gold on their tenement. The mine is a very small affair which sometimes pays for itself and sometimes doesn't, depending on the price of Nickel. They manage their own mining to reduce costs and appear to me to have been working hard to keep costs down (I'm not sure if the MD swings a pick, but I wouldn't be surprised.) The gold has not yet been proven to be commercially viable but is looking better as each extra bit of drilling is reported. With their hands on experience, I feel sure that they are capable of getting the best out of it if it is viable.
There are lots of shares in the company, 454M, so any eventual profit will have to go a long way. Still there are many explorers who haven't found anything who are selling at a higher price.
I hold at a slight profit but with a lot of interest in whether they can succeed. I regard my investment as speculative and realise I could lose the lot. The last financial contained the requisite phrases for a company which could go under.
Anyone who has not watched the company needs to be aware that there are some very competent day traders making a good living buying and later selling large blocks of shares. They make a nice profit on a small spread.