7c would be a good start, from the trial mining results, for ABU's share price momentum.
Then profit takers will come in and the price should drop from a peak, then increase again when the mining license is granted, and ABU's serious mining and profit making begin.
Long term ABU may make it to 20c, as a well run mid tier gold miner, but there's just too many shares on issue for it to make a huge run like ADN. Also too many short term holders and traders looking for quick profits.
It will be bumpy ride along the way. The upward trend of the POG will certainly help ABU's sp.
Time will tell where the market places ABU after the trial mining results. It would be nice to be above 7c!
I guess a lot of us are getting a bit twitchy!
No point in ramping the stock though, 60c may take 10 more years!
ABU is looking good for a short term profit when the trial mining results come in. 7c would be 300% profit for some traders! Also looking good for the long term holders, but the trial mining results will be a huge factor in the company's long term prospects. Let's hope for better than expected results!
Go ABU!
ABU Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
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