afr , page-2

here is the snippet on ABU.


"ABM Resources (ABU)

Northern Territory gold explorer ABM Resources is one that has captured the attention of fund managers as it is one of the few local explorers with a large undeveloped asset.

Its latest result from its Old Pirate project on Monday is particularly interesting as management reported a 126 metre strike length averaging 42.37 grams a tonne of gold.

Old Pirate’s resource of 427,000 ounces of gold could be upgraded given that the western limb extends beyond the existing resource.

This high grade but narrow vein deposit can be easily mined and Mr?Craighead said the project could generate $250 million. This can be used to fund the development of its larger but lower grade Buccaneer project, which is estimated to hold 2.67 million ounces of gold."


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