Jemma08,Important questions you have asked, and to answer them...

Jemma08,

Important questions you have asked, and to answer them with any confidence, one has to have a good understanding of the sector, what has worked and what hasn't over the last 10-15 years.

It is probably not the forum to really get deep into why ABM is different to TAM - but I can assure you that they are very very different. These differences stem from simple philosophies of what works in capital markets and what doesn't. The two companies have a fundamental difference of opinion on how best to grow shareholder wealth. To date, one has been pretty successful, the other - not so much.

ABM has a much larger and broader vision for the region than I believe TAM does, or at least "did" when they started production at Coyote. Let me explain this a little more.

When TAM began production at Coyote, it was the "flagship asset" and the company was all about "COYOTE". Unfortunately, today, almost 10 years later - TAM is still dealing with the hand to mouth legacy issues that Coyote has delivered.
In ABM's case OP is one of a handful of opportunities and projects that complement a broader strategy and sit within the largest tenement position for junior gold in Australia. ABM is about scale, but is also smart enough to not rush hastily into production for the sake of satisfying certain investors. Rather it is calculated about its approach, having the fortune of being able to learn from some of the TAM mistakes.

it is my fundamental belief that when TAM picked up Coyote, rather than race to bring it into production as they did, it gave them a footprint to consolidate further. Unfortunately they missed this opportunity.
ABM took it - First with the spin-out assets, then with the Newmont acquisition (Of which OP was a part of) and I would suggest they still have ambitions to grow that footprint, much as FMG has done in the Pilbara.

It is a Friedland/Ivanhoe like model - Take under explored ground, get all of it, apply good science and drill the living daylights out of it. It pays dividends and its how one finds Voisey Bay, Oyu Tolgoi, Nova of Sirius and who knows, perhaps GH/OP will in time deliver serious scale when tested at depth.

ABM has a fundamental focus on one thing. Make shareholders money. Simple. I knew Apex well, Wiluna was old and tired already, completely different to the virgin nature of OP/Hind, Hyperion and Buccanneer. Bendigo was different again, with a huge resource number attributed to a nuggety system - it left a fair bit of room for disappointment. TAM had a great little deposit in Coyote, but didn't learn enough about it before moving into production.

ABM will remain volatile and will test shareholders resolve at times, but as a shareholder myself I sleep well knowing the capable hands that are managing the process and their focus on continually creating value.

Pete