Austin Engineering Ord Shs V.ANG

ANG a compelling call on rising gold prices

[Fischlaender]

Looking at the excellent management (which btw slashed all payments for the time being to keep the company going), looking at the prospects especially on El Porvenir, plus they have a number of new concessions at hand waiting for confirmation, ANG is a compelling call on rising gold prices given its current low market cap. They will have to finance at some stage to get on the ground and pay property option payments (which are mutually agreed with vendor Mineros SA deferred until market conditions allow for ANG to finance). Look for a Financing in the amount of 25 million at 8 Cents with a full warrant at 16 Cents. Anything under 8 Cents is a buy. Following financing and fd ANG will stand at approx 100 million shares fd but with a minimum 1million Oz Au fafter a successful drilling on any of the three targets plus Blue sky potential as majors such as BTO and GCG are sitting on neighboring properties.