ABU is set to begin trial mining in a few weeks time. Much will be revealed from this mining, especially the grade of gold per tonne and the profitability of the full scale mining.
This should be a major turning point for ABU!
Another major turning point looms for the Gold price. The Gold price has hit its long term support level of around $1320. The last times it did that in 2005 and 2008 the Gold Price increased 80% in the following 12 months. (see chart below)
If the Gold price follows this pattern it will reach $2500 per ounce in the next 12 months! ABU's sp should then also be off the Richter scale!
With George Soros, personal empire worth $20 billion, buying heavily in gold and gold stocks, investing at least $250 million recently, it is a strong sign that he believes that Gold is about to make a bull run again.
"The last time it bumped against the base of its channel was 2008, and before that 2005. Both times, gold went on to jump over 80% in the following twelve months. A repeat of that from here would take gold to $2,500!
The other technical signals are flashing green too. The RSI at the top is as low as it's been, as is the MACD. Both are clear warnings to expect gold to make some major moves up from here, and soon." source Dr Alex Cowie, Editor, Diggers & Drillers Magazine, and respected stock analyst and adviser.
The Turning Points for ABU could come together nicely in the next few months, with ABU producing gold bars and the Gold price rising significantly!
Go ABU!
source
http://portphillippublishing.com.au/images/MPR20130522al.jpg
turning points
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Change
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Mkt cap ! $6.353M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $300 | 100K |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 21024699 | 18 |
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| Last trade - 14.31pm 05/07/2024 (20 minute delay) ? |
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