Ann: Quarterly Activities and Cashflow Report, page-15

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Chefchenko

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03/11/14

13:36

Post #: 14227885
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Originally posted by helmenesh ↑

Hello BM3121,

The last major communication from ABU was the "Quarterly Activities and Cash flow Report" released on the 30th October 2014. Two important paragraphs appear in the report and I paste these here from that report.

a/
"Mine Development Schedule ABM has now submitted its mine management plan (MMP) to the Northern Territory government and is awaiting response. Dependent on the timing of satisfying the Coyote Lease Agreement conditions precedent and the receipt of outstanding approvals, ABM is aiming to commence development as soon as practicable following final approvals."

b/
"Strong cash position with no debt"

The first paragraph suggests that the MMP has not been given the green light. In other words even though environmental impact statements have been approved and Traditional Landowners have given their blessing. ABU are not allowed to mine for production until the MMP is approved.

Unless I am mistaken, I have not heard or read anywhere that this MMP has been approved by the Northern Territory Government yet.

The second point suggests that cash is not the problem. ABU have enough in the kitty and positions to acquire more if they want it without having to resort to shenanigans. We know that the NT gov. will approve the MMP sooner or later, but even if it was permitted to mine and stockpile ore in anticipation of approval, why spend it when that money can be spent in more profitable pursuits like acquiring more properties and possibly upgrading plant at bargain prices, or earning some interest from keeping it in a bank account, ( despite the low returns of today's interest rates). At least good ground is being acquired and the capital is being preserved.

Finally, management remuneration is not an issue in the very big scheme of things ABU is in. As to patience, Well! it took BHP more than 75 years to get to around $40. Now, I'm sure I don't have 75 years to wait, but I hope I'll see good benefits in the next 2 to 3 years. Fingers crossed that I'll be here!

Take care BM3121 and cheers,

Helmenesh

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Oh dear Helmenesh, how dare you come on here with something other than misled opinion. ;-)

As for Bruce and Hells calculations, I'm waiting to hear how one can be 150% down on an investment or 1500% for that matter, unless one has been making sensible investments in spec stocks on margin?

ABU Price at posting: 31.0¢ Sentiment: Hold Disclosure: Held
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