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They are meant to be doing some Manganese drilling at Table Hill - Savory and at Wolfe, but haven't heard anything since their June QR and 15 Sep update (latter indicated drilling at Wolfe in October).


Fingers crossed for a good White Gum nickel-copper result --- I know probably only 1%-10% chance of success, but better than lottery!


Commander C



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  • 3 months later...

Just found the following in The Bull report today; might be of interest to someone holding AQD:


AusQuest Limited is an exploration company, primarily searching for gold and nickel sulphide. Szancer says AusQuest is currently engaged in advanced discussions with an overseas company regarding a potential farm-in to an exploration project in West Africa. ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The farm-in opportunity being assessed by AusQuest relates to a number of gold prospects that have been identified by surface sampling and which are ready for drill testing,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ he says.


Cheers, GERD

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  • 1 month later...

So What? I consider a 45% increase in the sp in 60 days a bloody good investment; how much you get at the bank? The sp picked up 17% on a 20 point negative market; they may have picked correctly; let's hope.

Cheers, GERD

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  • 8 years later...


By Tim Treadgold

Thu 27 September 2018 04:30 PM


Ausquest (AQD:ASX)

Rarely mentioned, even in trade journals or at mining conferences, tiny Ausquest has struck a unique working relationship with one of the worldÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s biggest base-metal miners, South32.


Both companies are based in Perth, but the difference in size falls into the chalk-and-cheese category. South32, a BHP spin-off has a stock-market value of $19 billion. Ausquest is valued at $8.4 million.


Size, however, is not everything in mining with small and nimble companies able to do things and go places that can be awkward for big companies. They can also as operate more cheaply.


It is the differences which have drawn Ausquest and South32 into a unique Strategic Alliance which has the aim of finding potential major new orebodies with a focus on the sort of minerals preferred by South32, copper, zinc, nickel and other members of the base metal family.


Born out of a chance encounter at a geophysics conference organized by the CSIRO between Ausquest managing director, Graeme Drew, and South32 staff the arrangement is a perfect example of corporate grubstaking.


In earlier times a rich benefactor provided food and equipment for a prospector to explore remote locations with any discovery being shared.


In the Ausquest/South32 alliance it is the big partner providing much of the cash needed while Ausquest gets on with the job of conceiving exploration targets, conducting the early-stage surveys, and then presenting a prospect ready for the most expensive part of the process, drilling.


Funds from South32 flow in at different stages of the process at both a corporate level directly to Ausquest and at a project level. Exploration opportunities put to, and accepted by South32, attract an initial payment of up to $500,000 to advance them to a drill-ready stage.


After that a joint venture can be created with South32 earning up to 70 per cent of each project after it spends $US4 million with the primary target locations being in Peru and Australia.


The deal is working well with 11 projects in the alliance. Drilling was recently completed at the Chololo copper prospect in Peru which is said to have revealed the potential for a buried porphyry copper system in the project area. (A porphyry is type of orebody, generally very big but relatively low-grade).


A second Peruvian project, De Fierro, is being prepared now for drilling which is expected to start by the end of the month.


South32 likes the arrangement because it unleashes the creative talents of the small team led by Drew, a geophysicist who worked for 20 years in the exploration division of Rio Tinto, and Ausquest likes the alliance because it provides funding for its original exploration concepts without having to call on shareholders.


The proof of the deal will be in discovery but with 11 projects in different stages of assessment it only needs one to hit the jackpot ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ much like the way venture capital deals are structured in the technology sector.


On the market, Ausquest shares have not shown much reaction to the South32 alliance, stuck around 1.6c for much of the past 12-months, a price which could be re-rated with a discovery.


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Good prospects in the next few weeks. For a speccy not that many shares on issue and a low market cap. Any one of the numerous prospects in Peru could prove to be a company maker and see a drastic increase in share price. But definitely a speccy.
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