AUAU - Farm Outs, Wallace and Drill Data Clearly, this is a good period re., gold price having gone from approx.., $12 – 1500 in the past year. With 12 months or so of the Trump era left who knows what may happen with the future price. However, a rising gold price is usually a positive for gold exploration companies even from just a gold momentum price alone. For AUAU they have the added benefit of Barrain exploring the Bolo project for them with a basically 50/50 outcome after the explorer has spent $4 mill in drilling (+ $1 mill to AUAU). So data results here will benfit both companies. But AUAU They also has several other projects being farmed out in 2020 including Mogollon and Four metals which will create more company news/focus.
Further, AUAU has also announce that Andy Wallace has agreed to continue with them as a Strategic Technical Advisor. His focus will be to advise on existing projects and to direct the ongoing exploration and development of the flagship Eastside gold project. This relationship is important to continue even if just from the perspective of Wallace’s reputation and contacts with many majors, never mind his knoiwledge etc.
However, AUAU also needs to get going with further drilling of Eastside (especially in an improving gold market). Although they already have approx., 1,000,000 oz inferred (including approx. ¼ historic) and about another 700,000 oz inferred which was not included in the original pit constrained report, they need to at least double this amount IMO to entice a JV.
AUAU obviously has a lot of data out there but they need to generate more drilling data to maintain the attention of the news cycle as well as the newsletters etc., which all help create company excitement amongst investors.
GLTA -
https://twitter.com/EarthsRare