AUL successfully raises $1.4 million

Barclay Pearce Capital is excited to announce AusStar Gold Limited (ASX:AUL) has completed the issue of convertible notes raising $1,400,000.
The funds raised will be used for mine productivity enhancements, in-mine drilling programs, processing enhancements and working capital purposes. 
Read about this and the following highlights in their latest ASX announcement:
  • Gold sales banked of $454,504 for the month of February including prior period concentrate processing. Gold shipped for the month totalled $617,581.
  • Processing performance issues experienced in late 2019 have been resolved with above budget availability achieved by plant.
  • 260 Oz fine gold and 30 Oz silver shipped for the month.
  • A further 680 kg of gold bearing concentrate was produced in February containing an estimated 0.9 – 1.1kg Au. Concentrate from prior periods also remains to be processed.
  • Both Stones and McNally reefs continued to perform with average feed grade of 11.7 g/t estimated for February.
  • Production and mining outcomes into March have provided indications of consistent gold grades being won from targeted mining and part-stoping at McNallys.
  • AUL looking at acquiring further gold producing assets.

Barclay Pearce Capital is also providing corporate, strategic and M&A advice to AUL.