Another positive announcement from ABU!
Trial mining, being virtually self funding, maintains about $10m in the bank, less on-going exploration expenses.
I like the figures for stage 2 of development, about 50,000 ounces produced per annum at 4,500 ounces per vertical metre! Those are impressive grades!
Approximately $75m cash flow and about $40m profit. This gives plenty of cash, and more, to fund stage 3 for a doubling of output and profits!
If the price of gold goes up then the profits will be significantly more!
In difficult times for miners, $40m profit, being unscaled to $80m+ per year, is seriously good money!
All looking good!
Go ABU!
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