I think the two of you make some very good points, and your numbers look fair enough, but I would say this:
never underestimate the stupidity of banks.
If gold continues to turn around and is seen as a "sure thing" then OK, the banks will lend. And who knows, maybe with a balance of toll treatment and development ABU will get away without extra raisings. I completely agree about the benefit of having 26mill in the bank, this is undeniably a Good Thing, just maybe not quite enough to take it to the next level.
@paddyhannan
"As I asked a few weeks back referring Old Pirate, a quartz reef hundeds of meters long, full of gold, sticking out of the ground, what happens next? Know what I'd be doing!!"
Yeah let's face it. Good grades close to the surface are a good thing. They could almost generate cashflow just by buying a shovel.
ABU Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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