Generally agree FMX although I think considering the state of...

Generally agree FMX although I think considering the state of markets over the last year, ABU were spot on by conserving cash and prioritising OP.
Had they spent similar amounts as what they spent on OP, on the other projects we would be getting low on cash by now.
I believe management have done what most investors wanted.
You can't please everybody, and you need to conserve cash in hard times.
These are hard times.
Get OP running first and we will have ample cash to progress other projects in due time. Run out of cash too soon and you risk investors bailing on fears of imminent capital raisings before you are ready to develop.

As you say, Hyperion is most likely only going to be developed with Tam (unless other deposits are discovered nearby or Hyperion grows significantly). Obviously an agreement with TAM is not something ABU are able to fully control.

With the Buccaneer scoping study, the time may have been extended so that it could incorporate the next jorc upgrade or because they want to investigate returns focusing on higher grade zones which may need more work to better define.
Like I said earlier, margins can't be as high as with OP so this one is likely to need much more work than OP to optimise in order to get attractive returns on investment.

If returns are not quite attractive enough to immediately move to BFS after optimizing, you can just wait for higher gold prices and a large bank balance- courtesy of OP. the project might be more attractive if developed using cash only with no debt hanging over it.
In the mean time, concentrate on developing OP and later expand other exploration and we might find other higher grade deposits which might take priority over Buccaneer just as OP has done.
I see a need to progress OP as quickly as practicable but I don’t see a need to rush Buccaneer.
We have enough on our plate developing OP until the cash begins to flow.