old pirate stage 1 scoping study results, page-73

" Any hint of QEIII will change this dramatically, which will in turn give gold stocks a win/win." The risk is that ABU is not yet a gold producer and may need to CR to do so. Gold producers faired better in the GFC due to gold price rise and bigger margins. However, exploration juniors needing to raise capital found it almost impossible. If we move towards GFC2, I would support this path 1) focus drill at OP reqd for reserve definition 2) change focus, stop other planned drilling for 2012, put remaining funds into plant purchase 3) raise funds for remaining start up mining costs as SP should be high 4) fast track production. Hedging is preferred to CR.