Markets are volatile right now with the US market having...

Markets are volatile right now with the US market having corrected quite a bit over the last four weeks and they may correct further still. However over the same period, as we had hoped, gold did bottom and it is trending up well. Most gold stocks have rallied hard – probably too hard for most IMO so I expect some volatility in both directions from here. ABU was left behind so may be less volatile.

Reiner, the commentary from yesterdays annual report that I copied and posted yesterday suggests not only that “systems are go” but that there appears reason to expect better than previous conservative guidance. Those main points copied in below again.

“Company targets recovering between 90% and 95% of the gold, based on laboratory test work.”
It will be excellent news if they achieve near 95%.

Slightly more upbeat talk about expected grades is promising ("at least 10g/t") previous talk was targeting 10g/t. clearly lower dilution is expected to have a significant impact on head grades;
“The Company anticipates a head grade of at least 10g/t of gold from the 10,000 tonnes, thus targeting to produce =3,000 ounces of gold.”

“ABM does not see any impediments to the ultimate granting of a mineral lease following completion of the Trial Mining and processing.

Also more upbeat on the size of stage three, only talking about doubling capacity to around 300ktpa this time rather than 250-300ktpa as previously.
“Following Stage Two the Company is targeting to expand the overall mill capacity to ~300,000 tonnes per annum (doubling capacity). It is anticipated that this will be funded from positive cash-flow from Stage Two.”

This increasingly positive tone might be indicative of good early indications from the Trial mine.