The mine plan is sound but it is small scale - ABM don't have access to capital to develop Old Pirate. If, for example Metals X or Northern Star owned this project, you think they would follow through with a 50kpa operation? Hardly mate.
The game has changed for goldies. I look at other small scale producers like PXG generating cash-flow and they hardly get sniffed at by the market. I feel ABM will get treated the same.
Well done to mgmt getting it this far, great deposit. Not sure I am 100% on the TAM deal, but would have been a difficult opportunity to miss. What would happen if say a company brought out TAM and locked ABM out? A very high project risk indeed.
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