AOA

About AOA

Ausmon Resources (AOA) is an Australian exploration company focused on acquiring interests in tenements for precious metals, minerals, and energy resources. The company engages in the exploration, evaluation, development, and mining of mineral resources.

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What does Ausmon Resources (AOA) do?

Headquartered in Sydney, Ausmon Resources Limited is a minerals exploration company focused on the discovery, evaluation and development of gold, copper, cobalt, nickel, zinc, silver, and other base metals in Australia.

Ausmon Resources ran major projects at Pooraka and Koonenberry in New South Wales, but decided the risks exceeded their exploration benefits. In March 2021, the company relinquished both Pooraka gold exploration licences (ELs 8424 and 6413) and “disposed” of its Koonenberry copper exploration licence (EL 6400) to Odin Metals Limited (ODM).

For the half year leading up to the end of 2021, Ausmon Resources “focused on data analysis and studies searching for new exploration areas with critical minerals potential that may be acquired and also preparing for field based work.”

Ausmon Resources’ new exploration areas include Broken Hill for cobalt, lead and zinc; Tumut for cobalt, copper, chromite and nickel; Limestone Coast, South Australia for Rare Earth Elements (REE); and West Duketon, Western Australia, for lithium.

Is Ausmon Resources a profitable company?

No, Ausmon Resources is not profitable. The company has earned zero revenue and negative net income since FY2012.

To continue its operations, Ausmon Resources has raised capital by issuing more and more shares each financial year. Over the past four financial years, the number of available shares has more than doubled, going from 386m to 538m to 604m to 706m in FY2018, FY2019, FY2020 and FY2021, respectively.

Is AOA stock a buy?

At the beginning of January 2022, the AOA stock price sat at A$0.006. By mid-April 2022, the stock’s value had increased 100% to A$0.012.

During this period, Ausmon Resources had positive news to report. 

The company completed Phase 2 field-based exploration at Brungle Creek and McAlpine in Tumut, New South Wales at the end of February 2022. By the end of March 2022, the company announced “encouraging results”, in particular “high chromium soil results in excess of 10,000 ppm (1%)”.

On 3 March 2022, the company announced that the WA Department of Mines Industry Regulations and Safety had accepted its applications for lithium exploration at two tenements in Laverton, WA.

On 8 March 2022, Ausmon resources began field-based exploration at Stirling Vale and Kanbarra near Broken Hill. 10 days later, the company finished sampling all their targets. The samples indicated the potential for lithium, caesium and tantalum.

AOA bulls have been riding the wave of positive news but other investors continue to be wary of Ausmon Resources due to the company’s non-existent revenue.

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Does AOA stock pay dividends?

Ausmon Resources has no history of paying dividends to its shareholders. The company has not declared any dividends for the future.

Who owns AOA stock?

At 61.3% of the total float, the general public owns the vast majority of AOA stock. 

Insiders hold 26.2% of the total float. These individuals include Executive Director Eric W Y M Sam Yue (4.9%), Managing Director John Qiang Wang (4.34%) and Chairman Boris Patkin (3.48%)

Other significant shareholders include Octan Energy Pty Ltd (3.46%), Bairong Feng (2.76%), Hix Corp Pty Ltd (2.71%), Sun Ng Man (2.45%) and Liubao Qian (2.39%).