“Resource Estimation work is underway and is intended to be finalised by early February, 2013. The work involves both an update for Old Pirate (including Golden Hind) as well as a re-optimisation of the Buccaneer Porphyry Gold Deposit focusing on the higher grade zones within the overall low-grade / bulk tonnage system.”
When you combine a likely minimum 750,000oz OP high grade resource upgrade at around 10g/t with the new optimisation work at Buccaneer for identification of high grade zones (resource upgrade also pending), then it is not difficult to imagine ABU going well beyond a million ounces of higher grade gold averaging 8-10g/t in the next week or so.
1 mill oz at very high grade, high margin and very low capex within a multi million oz global resource base and $130mill market cap do not go together. Especially when the permit for the trial mine looks almost as good as in hand now and when there is 4-6 years of mine life already identified at OP with strong exploration upside to extend and with potential to extend to 10-15years through Buccaneer high grade zones.
Something has to give.
I expect it will be the sp with the way news keeps coming in positive.
I’m a long term investor here but I am getting very eager to see the resource and scoping study updates.
Very difficult not to feel confident here for this year.
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