The Auris Minerals Ltd (ASX: AUR) share price is up 0.2 cents today, but it all counts when you're a penny stock as that translates into a 13% rise to 1.7 cents for any shareholders. Around $225,000 worth of the stock has been traded as at 15.00pm AEST.
Auris Minerals shares are lifting after it announced it has earned a 70% interest in the Cheroona Joint Venture with Aussie gold mining giant Northern Star Resources Ltd (ASX: NST).
The deal comes about after Auris effectively invested $1.3 million prospecting WA-based gold tenements, with plans now presumably on hand to start digging the shiny metal out of the ground.
Australian gold miners generally are enjoying a bumper couple of years on the back of a surging Australian dollar gold price that is now topping A$2,000 an ounce thanks to the double whammy of a strengthening US dollar and US dollar gold price.
This morning I reported how mid-cap gold miner Regis Resources Ltd (ASX: RRL) is posting near $1,000 profit margins per ounce of gold, with an all in sustaining cost of A$1,029 per ounce to show just what a profitable space this currently is.
Northern Star shares have more than doubled over the past year and it's no tiddler, with a near $9 billion market cap now.
