During 2QFY25 AUC continued to progress the development of its Katanning Project with a number of work streams currently underway as part of the ongoing Feasibility Study, due for release in 4QFY25. AUC expect to lodge the project for State and Federal assessments this quarter. A hearing at the Wardens Court is scheduled for May 2025 which will rule on the compensation payable by Ausgold to the owners of the freehold land which will be impacted by the mine. Mediation is ongoing with impacted owners with a goal of reaching a commercial settlement, removing the need for a hearing at the Wardens Court. Spot gold prices lift our price target from $1.10 to 1.20 with a Speculative Buy rating. Following a review of our coverage list we have decided to cease coverage on AUC due to a reallocation of resources.
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