---
title: AUL successfully raises $1.4 million
description: Barclay Pearce Capital is excited to announce AusStar Gold Limited (ASX:AUL) has completed the issue of convertible notes raising $1,400,000.
---

[The Latest ](https://www.barclaypearce.com/blog)

# [AUL successfully raises $1.4 million](https://www.barclaypearce.com/blog/aul-successfully-raises-1.4-million)

 Written by [Market Insider](https://www.barclaypearce.com/blog/author/market-insider) | Apr 6, 2020 5:45:00 AM

[Barclay Pearce Capital ](https://www.barclaypearce.com/)is excited to announce [AusStar Gold Limited](https://www.austargold.com/) (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:](https://www.barclaypearce.com/hubfs/ConvertibleNoteIssuancetofundMineDevelopment15858629430.pdf)

- 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](https://www.barclaypearce.com/) is also providing corporate, strategic and M&A advice to AUL.

[View full post](https://www.barclaypearce.com/blog/aul-successfully-raises-1.4-million)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Market Insider"
  },
  "dateModified" : "2025-01-30T04:15:27.683Z",
  "datePublished" : "2020-04-06T05:45:00Z",
  "headline" : "AUL successfully raises $1.4 million",
  "image" : {
    "@type" : "ImageObject",
    "height" : 335,
    "url" : "https://f.hubspotusercontent10.net/hubfs/6636518/austar-gold-raises-over-1-million-with-barclay-pearce.png",
    "width" : 600
  },
  "mainEntityOfPage" : "https://www.barclaypearce.com/blog/aul-successfully-raises-1.4-million",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : "The Latest"
  }
}
```