AUSGOLD LIMITED (AUC)
Share Price Analysis and Chart

19/08/2026

3

Downgrade to Speculative Hold from Speculative Buy

$1.50

11.94%

Bell Potter downgrades its recommendation for Ausgold to Speculative Hold with its valuation decreased to $1.50 following an acquisition agreement with OceanaGold.

OceanaGold agreed to acquire 100% of Ausgold shares via a Scheme of Arrangement representing an implied offer value of $1.36 per share.

The analyst highlights that shareholders will gain exposure to operating assets while retaining exposure to the Katanning development upside.

The broker's estimates and valuation reflect a 10% premium to the initial offer price, recognising the company being in-play.

The board unanimously recommends the scheme in the absence of a superior offer.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.40 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -2.30 cents.

17/06/2026

1

Buy

$3.45

157.46%

Canaccord Genuity maintains a Speculative Buy rating for Ausgold with a $3.45 target price following high-grade extensional and infill drilling results at the Katanning Gold Project.

Operational intercepts within the Central and Northern Zones demonstrated excellent grade reconciliation, with 80% of infill data returning higher grades than the underlying mineral resource model.

The analyst notes an additional 25,000m drilling campaign is being prepared to further de-risk the first two years of the open-pit mine plan.

Deep diamond drilling down-plunge of the current Datatine deposit uncovered deep extension potential, prompting underground mining studies to assess an optimized standalone processing scenario.

The broker-modeled mining scenario outlines an average annual production profile of 116koz over a ten-and-a-half-year life of mine with an upfront capital expenditure of -$390m.