Sorry Vendor I did mention the POG in my previous post, but only just a little rise in price .... $50 000/oz!!
Yes, some ABU investors are getting a bit twitchy at the moment. Plenty of selling is causing some nervousness, the sp is slowly trending downwards, and ABU's cash position doesn't look appealing at the moment.
Part of the trial mining plan was to produce at least 3000oz of Gold to offset the costs of the plant, the running of the trial mining ect.
If ABU does produce 3000oz to 5000oz of Gold in the trial mining, then the income would be in the $4m to $7m range. This would greatly boost the current $2.8m cash position.
Hopefully we will find out soon how the trial mining has been progressing, what head grades have been achieved, how much Gold has been sent to the Perth Mint for smelting and sale, and the more Gold produced the better!
Go ABU!
cash burn and loan facility, page-2
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