cash burn and loan facility, page-4

Vendor,

While I agree that the cash balance is the most likely reason for the underperforming SP (although there *could* be other factors/influences at play, such as T/O, CR etc.), I do have to wonder about your post/s and your agenda.

Like you, I am also concerned with the cash balance but unlike you I acknowledge two very important points:

1. Very big quarterly spend due to 100% of Capex and 60% of the mining being expensed in the quarter.

Given that 60% of mining was expensed then it is fair to assume that 60% of the mining was completed by EOQ, leaving 40% of mining left to do. We are now one month into the new quarter so more than likely the percentage of mining to completion should be in the 20-30% range.

2. Gold is being processed and sent to the Perth mint. From the quarterly .... "The company expects that the cash-position (with *on-going* gold sales) will *increase* in the coming quarter".

The EOQ Cash balance was $2.8 million and there has been no announcement that the minimum cash covenant had been breached.

There is a steady (but not quantified) flow of gold heading to the mint. Once processed it can be immediately sold on market therefore allowing an "ongoing" revenue stream until the last ounce is processed and sold.

You have clearly chosen to disregard these points in your OP. Now given that you are clearly an intelligent person and I assume you have actually researched and read the company announcements, one can only assume that your intentions are to either simply troll, or intentionally down ramp in the hope of achieving your preferred entry price.

Like the up-rampers on here, what most of your posts lack is balance. Up-rampers and down-rampers share the same MO. Manipulating or disregarding available information in order to serve an agenda.

I would also like some clarity from management and I don't think it would hurt them to do a short weekly update with respect to ounces of product sent to the Mint (or processed by the mint). That being said, it is their decision as to the timing of announcements and how they fit in with their work load, etc.

So, like every company there are things to like (a lot to like in the case of ABU) and things with which management could improve upon. I see value in discussing both in a balanced manner but see zero value in ignoring vital and obvious data to support a given position.

Still, it's your right to be whatever person you choose to be.

Oh, and as for the POG discussion, I agree that the future and past POG is totally irrelevant to the equation for the purpose of trial mining and cash balance.

At this point in time the only thing that matters is the *current* POG. We have gold being sent to the mint weekly which means that it can be processed and sold on market at *current* prices. Once sold, the cash is deposited into the account overnight.