I am to blame for my losses.

I am as much to blame as anyone else for the fact that I have lost money on my long-term investment in ABU. But its not all my money and its not my only mining investment.

I should not have become too seduced by the very high, shallow gold grades and increasing number of veins being found.

I should have thought more deeply about the risk issues around high nuggetty gold deposits, which are almost as bad as alluvial deposits for throwing up surprises.

I should have read more carefully the ABU reports and the risk sections of the various reports which do lay out the grade issues.

I do not believe that DH is a fool or incompetent. He was leading a team of mining professionals and unfortunately for all concerned the nuggetty gold grade continues to be a problem. These are the most difficult deposits to grade estimate and schedule. Some companies in the past talked only about the tonnes of quartz lode and no reference to gold content at all. Could be worse, I have seen deposits where there ended up being virtually no gold.

Also, remember that several teams of independent technical experts have been all over this project including Pacific Road and the ANZ.

I am considering buying more shares. Good luck to DH in his new endeavours and good luck to the remaining ABU team who will continue to learn from these technical surprises and get this project back on track.