gut feel on the grade from golden hind

if you look at the announcement back in 2012 from the gravity recovery test work of 30kg from Knelson..... it came in at an enormous 143g p/t with 97%> + recovery. The announcement says they took the concentrate from 11 different sources around old pirate....

Obviously this is only a small sample and its hard to know where it came from exactly... and even what they originally expected from the sample. Even the fact that the second test from Gekko reconciled at 'only' 40g/t (lower but still enormous) shows that its just really impossible to know yet what the grade will reconcile to from the trial. Keep in mind Golden Hind wasn't even discovered at this point.

More importantly it looks like the trial is all coming from golden hind... so dont be shocked if we end up seeing a number that could be totally off the charts. My gut is that this could easily happen considering they really will need as much $$$$ in the bank for stage 2 as possible. If they need to do a small raising.... its likely better for all shareholders when the market sees the high trial grade and the stock gets up to at least 6-7c...

I hope they can get to stage 3 without a raising as I will most probably be diluted, but I am not so sure that it will be possible? Perhaps they could do a deal to pay contractors with future gold of some sort or delayed stock issue cleverly devised with incentivised options to minimise dilution and then align contracters with their overall mission? Darren has done everything unorthodox and credit should go to him and the team for letting the ore body tell them what to do.... But if they can get this to stage 3 without a raising by some further unorthodox and smart deal-making, then he will seriously deserve all the credit in the market and I think ABU will be taken very seriously.

Also the key risk I see is really the mining license. So many times, many Australian authorities and government bodies have sapped the entrepreneurial spirits of true value creators by endless red tape and bureucracy. If some high-browed official for example finds some plant or something of that nature that nobody in the world really cares about but is 'endangered' and then makes a fuss... we could see the licence process delayed and value lost for the sector as well as a loss of real employment and activity in the area. Anyway lots of risks still, but exciting times ahead!

Darren once mentioned that he thought Old Pirate reminded him most of Goldcorp's Red Lake Gold mine - one of the highst grade and most profitable mines ever discovered.

If Old Pirate turns out to be anything even close to Red Lake over the long-term, forget about 6c, forget about even 60c, ABU could be a multi-billion dollar company.

Anyway we can only dream then how happy the 'wives club' of the members of ABU forum will be!

cheers
Jemma