Just playing devil's advocate here, but:
- the market knows how good OP is
- the market knows how good Darren Holden is
- the market knows its the best time to be a lowcapex high grade producer (as per Lasonde's presentation)
- the market knows ABU is best emerging Aus explorer etc
that is why its already capped at $150m!
I like to also look at what else the market is telling us:
- the shareprice refuses to rise on continual good news
- a large shareholder is selling (why is this so if ABU is so good?)
- a large shareholder is selling on the market (why can't they find a strategic block buyer instead of the drip-feeding if ABU has so much potential?)
- TANAMI has been an unmitigated disaster for well over a decade (there is no disguising this fact)
- Twin Bonanza has minimal power, water, infrastructure etc
- there is massive execution risk (plans written on paper almost never materialize to realistic expectations)
- there is still no mining licence at OP
- there is still no native title permission etc at OP
I think trial mining is definitely the right strategy from Darren as market will only believe it when they see it.
So playing devil's advocate here, I am just not convinced (even after a resource upgrade with Golden Hind) that the share price will budge much in this market until people see the liberated high-gravity-recovered gold sitting in that little store-room that they have in the picture of the corporate investor presentation.
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- great link reiner and comments always chuk...
great link reiner and comments always chuk...
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