well done, page-60

ABU's price is higher, but cap of FML is a little higher than ABU still at $155m. Just shows how well regarded our still explorer ABU is, and maybe just how undervalued Focus is considering this company's extensive and growing gold operations are at Coolgardie, the Mount and Laverton. A little exploration excitement here too with multiple pits widening, Lake Cowan gold exploration, and more recently high grade hits at Burtville, already being plugged for development. Just need to lower cash costs a bit, and cut development spend a little to build some cash, which is indeed planned for the next couple of quarters. Will be nice to see a bank build from here on as a buffer and nerve tonic for this company's many still pensive holders.
A resuming bull market for gold however will no doubt do wonders for both these companies. ABU from both it's outstanding high grade exploration success, and near term production at Old Pirate, and close by from the large low grade Buccaneer gold porphyry which will come back into play in a big way as gold rises towards and maybe beyond $2000/oz as is now so widely predicted by gold pundits.
Focus with it's rapidly growing operations, two mills, one operating, and one still requiring refurb. will also come very much into "focus" in a rising gold market. With high potential too for ongoing further exploration success pointing to this company being around for the long haul. Just a very complex company to figure thats all, and has been running too fine a line with it's cash in this still spooky market with a very big development spend, but Storing up mining reserves for the next ten years and beyond. Believe cash build over the next couple of quarters will alleviate this worry.
Hold both ABU, and long term FML investor, just been a frustrating ride so far for this one, but feel the pain is now almost over. Many other high potential goldies out there too and barring mishaps should all do well in the next few years due to the global financial mess upon us.
The only question is when you cash in where else do you put your funds? Maybe better to just stay put I guess, and see how things pan out.
Keep the good research on ABU coming Chuk, interesting times ahead for our seemingly well managed company. Drill bits humming into Old Pirate, ABU's own L/R, and who cares if it's not the fabled one.
Good on you Darren!
cheers
mamba