Wild ride for junior gold stock

Article Excerpt

AUSTIN GOLD CORP. $1.71 is a hold, but only for highly aggressive investors. The Vancouver-based company (New York symbol AUST; Resources sector; Shares outstanding: 13.3 million; Market cap: $22.7 million; No dividend paid; Takeover Target Rating: Medium; www.austin.gold) is developing four gold mines in Nevada. All of these projects are still in the early exploration stages. In May 2022, the company sold 3.75 million common shares at $4.00 U.S. per share to the public for proceeds of $13.85 million U.S. (net of underwriting fees). The stock shot up to $29 on the first day of trading, but is now down 57.3% from the IPO price. However, it could quickly move up again if Austin is able to sell its projects to larger gold producers. Austin Gold is a hold for highly aggressive investors. investors…