1. If I am reading correctly it appears IMO ABU will walk away...

1. If I am reading correctly it appears IMO ABU will walk away from Coyote.
"All leased infrastructure & accommodation will be demobilised" in April 2016.

2. Also potential for return to mining;
"There is scope to revisit Old Pirate & potentially develop a more extensive & financially robust mining operation if a larger scale, lower cost processing option can be established or otherwise accessed"

3. Valuable knowledge from the experience was gained;
"Significant technical data was obtained from mining at Old Pirate to an improved understanding of mineralisation & geology in this area"

Now lets analyse these points;
1A. In the 2013 Ann report ABU wrote about 7 pages on how they would use the on-site gravity feed processing plant after the success of stage 1 mining. Yet a complete backflip with half pike and a twist came after PCR came on board in 2014; the Coyote TAM deal was signed.

2A. Why wasn't an extensive & robust feasibility study conducted in the 1st place before Coyote deal was signed with TAM.

3A. Valuable knowledge was gained from the experience; this isn't a uni course in mining 101; also stage 1 mining (Ha Ha Ha) realised results of 15.8 g/t (Ha Ha Ha); the understanding of the geology was via trial mining + extensive drilling.

Conclusions
The deal with TAM & Coyote was not reported till after the event in 2014; yet ABU reported a mining plan in the 2013 Ann report (7 pages of it); you can't report one thing via ASX then go do another which was not reported till after the event; you can't blind side shareholders like that.

Stage 1 mining in 2013 (Ha Ha Ha) was a joke; lets face it the results from stage 1 do not correlate with stage 2; yet the company has not commented on this discrepancy. The valuable knowledge gained from stage 2 was at the expense of shareholders yet stage 1 mining was designed to mitigate risk for stage 2. Stage 1 mining results were obviuosly flawed!

It is now woefully apparent the the whole BOD was incompetent; why they are hanging around is beyond me. And Dr Lambert; with all your experience your report card in regards to ABU is IMO woeful.