Jemma some fair points to be raised and I am happy to respond to...

Jemma some fair points to be raised and I am happy to respond to them;

Whether the market is pricing ABU correctly now is debatable (was it correct at 8c last year or 3.5c this year?).
Everyone will have their own idea on what a stock is worth and there is no doubt at all that with small stocks the market often prices them completely incorrectly. The extreme volatility over the last 18 months for the sector despite much less volatility in the POG proves this.
Some explorers appear heavily undervalued now, and 12-18 months ago I thought many were grossly overvalued.
The market moves to extremes and I think we are now close to extreme lows. Whether the market in these explorers goes lower or not I don’t know but I am happy with ABU and would rather be in some of these stocks now than a year ago. Many have fallen 80-90% and I still don’t want to buy them (and thankfully I didn’t want to buy those a year ago either!). I disagree with the idea that the market prices small stocks correctly or even close to correctly (same applies but to a lesser extent on large stocks).

TAM were selling because they are in trouble with cash flow. They had debt at very high interest rates.
They took advantage of the higher sp in ABU but the last ABU presentation shows they have not sold any between that date and the date of the previous ABU presentation. There were actually some large crossings in ABU around the time that TAM stopped selling on market.

“the shareprice refuses to rise on continual good news”
The sp rose from 3.5 to 6.5 before TAM started selling so the sp did not refuse to rise, it did rise but then got hit by Tam selling.
That the sp dropped because of TAM selling suggests the current sp has nothing to do with an accurate market valuation.
The sector did turn down around the time when Tam started to sell so it probably would have corrected anyway but it might have gone higher than 6.5 first and corrected by less.
I have little doubt that the sp will trade at some discount which should reduce with each milestone but I would argue the discount is too large right now thanks to TAM and a currently weak sector creating a good buy opportunity.

“Twin Bonanza has minimal power, water, infrastructure etc”
This doesn’t stop Newmont running a large and profitable gold mine!
The area is serviced by roads and ABU has an air strip.
There is ample water (unlike NSW where Regis just bought McPhillamys).
OP will be very small and a small power plant is not a big disadvantage. This is already factored in and cash costs are still estimated to be very low thanks to the grades. Grade is king.

“market will only believe it when they see it.” Many of us already see it and believe it and that is why ABU has strongly outperformed its peers and even many producers over the last 6 months. Yes the sp is likely to rise more strongly when it’s all proven as the doubters are converted but there may be much less sp upside by then.

Permitting of this mine is about as low risk as it gets for reasons posted often enough. There is always some risk.

“there is massive execution risk”
At very high grades, with such a simple processing (gravity only), three separate gravity tests all showing 85% or better (up to 97% on the latest testing), very extensive surface sampling greatly reducing risks of being very far out on grade estimations and plenty of room for error on very high estimated profit margins I think the execution risks are much lower than normal.