ABM already has a new FUNDING agreement in place!, page-4

Hi Bill.
It's drawing a long bow to put a valuation of Bumblebee at the present time. Is it an exciting discovery, Yes. Totally virgin ground, a polymetallic deposit which has the potential & geological setting to be a major discovery if compared to other deposits around the world, but it's early days yet. The diamond drilling program will lead to a better understanding & the actual tonnage & strike length of the mineralized ground. One of the most important factors will be the average width of the orebody & also will the grades be consistent throughout the possible 5 kms of strike length. On another note, it appears that i have been wrong as to the draw down on the ANZ loan facility. The $3.8 mill was to cover the environmental bonds.The $10 mill facility is still intact. My apologies. ABU at present has the option in the near future to kick off an underground mining operation & i am sure that this is being considered as we speak. After studying the location of the pits it seems that the greatest concentration of known gold bearing lodes is at Old Pirate itself. These include Old Pirate South, Central,East Side & the Western Limb. As the pits have already been excavated down to competent rock it will not require a great deal of effort to establish a boxcut, cut a portal & commence declining. Even with the narrow veins, once strike drives are established & because the orebodies are almost vertical then long hole stope mining could take place. As long a close attention is paid to keep the hanging wall intact then the end result would be a low tonnage, but very high grade mining operation. The gravity feed mill onsite would easily handle the ore produced & even with an 87% recovery the dollar bills will begin to add up very quickly. Golden Hind is another option if, as we have been led to believe the orebody widens at depth. Equipment required 1 twin boom underground jumbo drilling rig, 1 underground loader, an IT machine (intergrated tool carrier) 4 men per 12 hour shift developing the decline. Due to the sedimentary nature of the host rock development of both the decline & the strike drives should proceed at a cracking pace. Another jumbo would be required to develop the strike drives leaving the main rig to continue decline development. This will take dollars to set up, but the returns will come very quickly & once proven successful will be reflected in a major increase in the share price. There is plenty of expertise out there looking for work & this would be a great opportunity for all concerned & hopefully it will in turn restore ABUs reputation as a serious player in the mining game.