G'day Bob-
Its not surprising that you hold the old BOD with contempt we all do, I as other LTH were there
& completely understand as we all felt the same financial pain & betrayal by those the
BOD -ATTwe entrusted our capital with.
ABU holders that were there- almost two years ago were relieved ATT that the old board of
Directors self destructed, if there were motives for there behavior ( I think there was ) it did
not transpire as they envisaged -Good riddance to them !
LTH that made the decision to stay invested in ABU made it based on ABU's tenure & as holders
we needed new Experienced Directors with a new vision for ABU that would be prepared to
look outside of O/P as ABU's vast tenure potential had been neglected.
As an investors I was relieved when we attracted a new chairman of the calibre of Tommy Mckeith
June 2016 & some months later same again with Matt Briggs joining ABU as M.D. in October
last year as he has also brought much experience to the table.
As for Old Pirate the methods, economies of scale & many other aspects used from extraction
through to processing were wrong -it almost sent ABU to the wall, the surface deposits
the easy accessible cream is now gone it was botched.
So ABU has O/P & Buccaneer after a resource review resulted in a downgrade is up for
divestment -Several entities interested no deal as yet announced.
What transpired would not effect mining professionals decision to move on O/P & Buccaneer
they would have faith in their own experience & thus ability it will come down economics &
after they conduct there du-diligence it will primarily come down to the
POG -ATT vs agreed price.
So ABU has moved on -O/p & Buccaneer will sell, I have little doubt especially given NST
acquiring Coyote -( Western Tanami Gold Processing Facility ) in close proximity
the timing & price is what's unknown.
Its somewhat hypocritical for you to chastise ABU for being an exploration company as when
you left ABU you invested in S2R an exploration company & have had some financial relief due
to your investment in another exploration company PIO, this indicates you are aware of the
value that can be returned to investors should discovery through exploration activities be
made, its a pity you are not showing ABU investors any respect as they are also invested
in exploration & have the same right to feel enthused imo with current exploration activities
& achievements since our new M.D. came on board just over one year ago.
Of course the current share price is disappointing there is nothing built into the share price
that reflects 2017 achievements seen below-thus imo the share price is oversold.
Capstan Aircore Program Confirms Large Scale Gold Anomalism
Lake Mackay JV - Project footprint grows by 60%
ABM and Thunderbird sign North-Arunta Exploration Agreement
Lake Mackay JV Agreement with CLC and Traditional Owners
RC Drilling has Commenced at the Suplejack Project
Managing Director's Presentation to Shareholders
We as LTH & new investors have our eye's wide open & are aware of the potential upside
vs the risks-if you want safe a safe investment in the gold sector invest in NST !
( Yes we all should have many moons ago )
I am saying as it is & have every reason imo to stay invested in ABU as I like the direction
ABU is headed both its own exploration activities & the two Joint Ventures exploration upside,
not hyping just plain old my opinion & give reference when were I can for the opinions I have.
imo-glth
salt
p.s-You may have forgotten the depth of hole- SSRC100008 -5 mts at 61 g p/t gold at Suess
was only-48 mts Vertical Depth !
Current just finished R.C.-program at Seuss 1,600 mts x 10 Holes average depth 160 mts
can & likely will vary in depth -very interesting non the less .
Seuss Fault RC Program conducted early in the year-(ASX ann-23d June 2017 ).
SSRC100008 – 5 metres at 60.9g/t gold
o SSRC100007 – 6 metres at 19.4g/t gold
o SSRC100019 – 3 metres at 19.9g/t gold
o SSRC100015 – 8 metres at 5.4g/t gold and 7 metres at 4.7g/t gold
salt
p.s.-Wish you well Bob but imo you are venting at current holders whom are not to blame
for the Old Pirate debacle, was it a missed opportunity yes -ABU is now moving in a
different direction -Such is life.
salt
