Ausgold’s board and management team has had a significant refresh in the last 6-months with the resignation of directors Richard Lockwood and Denis Rakich. John Dorward, former President and CEO of Roxgold has been brought on as Executive Chairman. Coinciding with a new management team the DFS has been pushed back to mid-CY25 pending a strategic review to deliver a ‘enhanced’ DFS. As a result of the DFS delays we push back our first production date to the MQ FY28. Our price target is lowered from A$1.30 to A$0.90 with speculative buy maintained.
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