News: ABU ABM Resources NL announces fully-underwritten 3 for 5 rights issue and debt facility, page-20

What a joke,

This company is beyond belief, they have destroyed so much shareholders wealth with lies and deceit and now they want people to cough up more money so that they can to go back to the lottery of exploration. What the ........

This board allowed tens of millions of share holders money to be burnt through and all the time it looks like they were just hoping that the gold was there and possible to mine. Surely the trial mining raised some red flags!

It now looks like everyone involved in this monumental screw up will be gone from the company in the near future and never held accountable. Disgraceful!

When i made the decision to invest last May , there was a thread on here comparing  ABU to BLK at the time Abu was selling at 25 cent and BLK was 15 cent, But ABU seemed like the obvious better safer investment as they kept promoting the high grades and low costs that had been proven by trial mining.
I was foolish enough to believe in the fairy tale and to buy 100k shares thinking that even in a lower gold price environment they should go okay with there high grades.
Fast forward 10 months, could have dumped my 1ook ABU shares today at a little over $4K or if i had been lucky enough to go with what i thought was the dog of a company and sunk my money into BLK i could have been out of today for $100K


So while the huge capital loss is a bitter pill for holders to swallow, the lost opportunity is a lot worse, during what has possibly been a once in a life time run in Aussie gold stocks!

Right asset, right time, right country, right currency Wrong company

Such is life i guess!