whose selling out ?, page-91

Sorry to hear about the lack of u/g work in WA Bobminer. Hope you pick up something soon. A bit concerned for our sons in Karratha too with the slowdown gathering apace but still faced with high housing/accommodation costs which are a disgrace.
Not for a while yet with rich surface gold to dig up first in the Tanami but one day ABU may/will need u/g miners with expertise at Old Pirate. How deep does it go, maybe we will get some answers in 2013?
Ongoing market manipulation by the big players endemic on our ASX continuing to feed on the still prevailing shockingly poor market sentiment for our goldies in particular. But they will inevitably take it all just one step too far, and sentiment will then make a dramatic sea change and there will be a rush the other way. Just did not think they could push things this far with gold still plus $1600 an ounce, and poised to recoil much higher.
What does this ongoing extremely depressed junior gold/mining market sentiment mean? There are now multitudes of cash strapped companies effectively now just sitting on their hands and simply conserving remaining cash and not doing any meaningful exploration. This means that exploration by all but the cash flush explorers is simply drying up globally and in Australia at a time of unprecedented demand from China and others who are rushing to gold as salvation from a the ongoing global debt crisis. The major gold miners in turn are not replacing ore reserves being mined and depend on letting the juniors find deposits for them which they then grab control of once proved as the cheapest way for them to replace reserves. This all points to declining global gold production at a time when China is meanwhile picking up all the gold it can from the west on the cheap. (without seeking headlines to alert the world to their endgame) China is also making big moves on depressed junior goldies the world over such as the recent 51% buy in to Focus Minerals which gives control of much of the Coolgardie and Laverton Gold fields, plus whatever is discovered on Lake Cowan, which being slap bang on an unexplored portion of the rich Boulder Lefroy fault may come up trumps with oodles of cash now to explore. Still waiting to hear from you on this and the Mount area Bobminer?
To my mind this means that the current situation is untenable and there will be a re awakening to PMs of the like we have not seen since 1980. But this time it will more than likely last much longer as global money printing presses run to infinity and gold really does become the asset of last resort. The only question is how many goldies will survive in the interim, or not be gobbled up dirt cheap by China.
Hopefully we will wake up to the big game being played before it is all too late and we just work for our foreign masters.
Just how depressed is our market, well you only have to look at Cudeco which is moving close to commissioning at its new Rocklands Copper Mine at Cloncurry, having again raised more cash at a premium recently against the market odds. In CDUs latest report this week while drilling a pit de watering borehole in a so called blank/barren area of the minesite hit 123m @ 3.39% cu eq with an higher grade core of 47m @ 8.6% cu eq pointing to a substantial high grade underground resource addition to come. But the market barely yawned. Sirius Resources $60m raising showed also that there is still money out there for quality discoveries and promptly turned that companies sp back up this week after drifting of late.
CDU boss Wayne McCrae has been meeting the market manipulators head on, with multiple buy backs, timely releases, and multiple cash raisings at a premium and the market players & shorters are not having such a good time of late. Would be good if other companies with good high grade discoveries study what he has done with his company/project and take a similar line of attack to help swing sentiment back to positive again.
Maybe our ABU with good cash reserves and under the good management of Darren Holden, and with near term high grade surface gold mining to come at Old Pirate will show the way too, and start a groundswell of resistance against all the despicable games being played. Linking ABU to the small group of elite ASX Junior Gold Miners such as NST, SLR and the likes.
Hope that 2013 brings a much better year for us all and our ASX goldies than 2012 and much of 2011 delivered. Hopefully soon time for our day in the sun.
cheers
mamba