Ausgold (ASX:AUC) is "well positioned" to accelerate resource growth at its Kattaning gold project in Western Australia, helped by fast-tracked permitting, among other factors, according to a Tuesday Euroz Hartleys note.

The company on Monday said that high-grade results from a recent drilling at its Kattaning gold project in Western Australia confirm "strong" growth potential.

The research firm said that the company maintains a strong cash position to unlock further value at the project.

Euroz Hartleys believes that the conventional open-pit project remains a quality standalone gold development.

Euroz Hartleys maintained its speculative buy rating on AUC and increased its price target to AU$1.95 from AU$1.90.

The company's shares rose almost 2% in recent Wednesday trade.