Very tentative long awaited sea change in asx goldie sentiment seems to be firing first shots following grab for bank savings in Cyprus this week . A lot of Russian money there, Ive read $30b. 10% -$3b grab so they are not happy I guess. Wonder what the Russians will do now? But the big question now is who is next. Maybe that is what is kicking gold back up over $1600. How much longer can these games go on before everyone becomes aware of just what is going on.
Meanwhile ABU has released another extremely positive presentation this week, and with trial mining now permitted, and drilling and sampling re commenced in the Tanami, self funding development at Old Pirate, more interesting times dead ahead for our company. Look forward after the summer recess to many more exciting releases to come from our astute MD Darren Holden. I bet he his getting a little excited too with first gold in just a few months now.
Early days yet but ABU is my best performing ASX goldie this morning so far, on my watchlist anyway. Just maybe with extensive high grade gold at surface opening up all over the show this company's time in the sun is now rapidly approaching for all to see. Only the totally depressed ASX goldie sector has kept this thing under the radar for so long I guess, but maybe not for much longer?
In a still extremely depressed Australian exploration sector it is highly encouraging to watch SIRs super nickel/copper "Nova" capture the market imagination sending it from .06c to $5 in just a few short months. I know that MCs backing here is a large factor here, and a large new nickel discovery at Fraser Range is very real, but so is Old Pirate Gold, if not on the same scale yet? and my guess is when gold sentiment reverses companies that can self fund high grade surface gold mining will become market darlings themselves. Just the waiting gets in the way but I'm not going anywhere with this until fruition. I think that d0own the track a bit ABU will be joining the small group of elite high grade low cost asx gold miners. After the last two years watching most low grade high cost miners struggle for survival with shareholders continually pillaged with massive dilution I have personally learned the lesson that high grade at surface is best with only the odd exception such as RRL and SLR etc.
I believe that ABU down the track will become the best surface/ near surface new gold miner in the country, with a very big tick to management to date. Hope he keeps his inspiring track record in the years ahead.
cheers
mamba
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