change of heading, page-20

I agree Petey.

There still is the proof in the pudding to prove with trial mining.

I take a positive view to likely results based on the extensive sampling that outcropping veins have allowed, as well as the fact that GH was able to deliver a resource to indicated status with 113,000tonnes averaging 16.45g/t for 59koz's including the higher grade core at 45.58g/t for 49koz.
That's from surface to just 50ms deep and with greater width than OP resource. That means much lower strip ratio and higher grades than those assumed in the scoping study for OP so a VERY high margin start up from an ore body with indicated jorc status. That will likely be blended with OP ore over the first year but should give us a bumper first year with much lower risk.

There's always an “if” but there has been a lot of work done to increase the confidence in this deposit.

As for takeover target, I agree; if it’s still around 3c after trial mine results this will be a very vulnerable company. If buyers don't push this up on market we may get an offer to do the job overnight.
This must be looking very attractive now to the high cost producers that are struggling with low margin production at current gold prices.
I'd prefer to see the price up without an offer.

Another stock I have been watching for quite a while is ELM.
Also a good deposit but up front capex in the multi billions!
Despite that it has recently had a conditional offer made, albeit off a low base.
The sp rallied strongly but is still well below the offer, no doubt thanks to a few offers recently falling through.
With ABU's capex needs almost insignificant, it would be a much more attractive and easy to finance target.