To be honest I have read all the comments and believe the following is a fair reflection on the current hiatus:
The share price rose much too fast and this increased the expectations of a faster delivery of the early phases
Unfortunately these expectations could not delivered on due to the fact the required mining equipment would not be delivered due to delays in the manufacture of said equipment. Supply shortages are occuring around the world in many industries including mining.
ABR had to inform the market that the ambitious delivery objectives could not be achieved, this was beyond their control.
The announcement of the departure of the CEO was not done well. However it was very clear that a new CEO would be required to enable a US listing. The previous CEO unfortunately, IMO, did not have the US connections to make an impact with the institutions.
So to get things back on track the ABR board needs to deliver the following:
Appointment of a new CEO with industry credentials relevant for the US market
A clear and unambiguous plan which outlines the phased deliverables to production
The plan to deliver the execution of the listing of ABR on the US market
We all have to remember that in early 2020 the share was sub .50Cent and now its trading @ sub $1.50 which is not a bad increase. The next few months will be critical and maybe DAZ or Rockme will be correct if the board fails to deliver, however based on the current JORC and the demand for Borates worldwide with a duopoly controlling the market, RIO and ETI, I believe that ABR could be a very exciting long term play. Remember ABR has the required mining permits in place, a possible distribution agreement with Compass to market the SOP and finally a proven resource.
ABR Price at posting:
$1.46 Sentiment: Hold Disclosure: Held
