Ann: High Grade Gold Results from the Golden Hind, page-42

re: Ann: High Grade Gold Results from the Gol... ABU share price has been flat for a while now.

ABU won't move until (in my opinion) the following are progressed:
1) Large assay backlog, same issue as last year continues unfortunately, results in longer delays for results news and also pushes out timing for resource upgrades.

2) More drilling, less trenching news. Recent announcement showed just how immune the share price is to trenching results. These are not rated as highly as drillholes by the market. Yes they provide some useful bulk sample vs nugget information, however market the wants more JORC compliant drilling at depth and strike extensions.

3) Short term production 2012-2013 from OP. With the returns indicated by the scoping study, open pit mining should commence as soon as possible. Being open pit and gravity circuit (initially) there is no need to 'define the entire scale' of the deposit. Cutbacks on pits are very easily done, allowing extension drilling to progress at the same time mining is providing a revenue stream. Start small and build with positive cashflow. Noting that SLR and NST both pretty much walked into operating mines and added exploration success which then boosts production.

4) Stating the obvious, global market sentiment change in gold. Probably getting close, 2013 looking like the year.

Imagine how much ABU could scale up exploration in 2 years time on many of their regional targets with $200M in the bank.