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ABU, ABM RESOURCES NL
melua
post Posted: Jun 14 2014, 10:34 AM
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In Reply To: melua's post @ Apr 18 2014, 07:49 AM

Waste of time doing a consolidation.

 
melua
post Posted: Apr 18 2014, 07:49 AM
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In Reply To: melua's post @ Apr 4 2014, 05:33 PM

I stated two years ago I didn't believe management were up to the task of making the transition from explorer to producer.

 
melua
post Posted: Apr 4 2014, 05:33 PM
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In Reply To: Mookie's post @ Mar 26 2014, 11:55 PM

Much rather do business in Africa than Australia. Not all of Africa of course but there's plenty of stable African countries and the costs are a fraction of Australian costs.

 
Mookie
post Posted: Mar 26 2014, 11:55 PM
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In Reply To: melua's post @ Mar 26 2014, 03:03 PM

I get that it's expensive to do business in Australia, but brushing over the multiple risks from doing business in Africa...

http://www.crikey.com.au/2012/03/21/offici...switcher=mobile

Australia near the top with South Africa near the bottom.

 
melua
post Posted: Mar 26 2014, 03:03 PM
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In Reply To: Mookie's post @ Mar 26 2014, 11:16 AM

chuk,
You wanna be careful believing what you hear from management. Remember KGL?

 
melua
post Posted: Mar 26 2014, 03:01 PM
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In Reply To: Mookie's post @ Mar 26 2014, 11:16 AM

Yes! From an economic view point for sure.

 

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Mookie
post Posted: Mar 26 2014, 11:16 AM
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In Reply To: melua's post @ Mar 26 2014, 10:19 AM

Melua

Your saying that mining in Australia is a higher risk than Africa. Really?

 
melua
post Posted: Mar 26 2014, 10:19 AM
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In Reply To: melua's post @ Mar 23 2014, 07:34 AM

Australia is moving higher up the "risk" ladder in terms of doing business in mining. The economic risks in Australia far outweigh perceived geo/political risks in Africa. The economic risks in Australia are real and tangible whilst the geo/political risks of doing business in Africa may never come to fruition.

 
melua
post Posted: Mar 23 2014, 07:34 AM
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In Reply To: chuk's post @ Oct 30 2013, 09:48 PM

I always questioned management's ability to make the transition from explorer to producer. This latest about face confirms this in my opinion.

 
chuk
post Posted: Oct 30 2013, 09:48 PM
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In Reply To: melua's post @ Oct 29 2013, 04:09 PM

"I thought they would have included expected revenue from gold sales. The fact they didn't leads me to believe they will run short on cash."

They have previously guided that they were aiming for 10g/t from the 10kt trial. If I remember correctly they also said they were aiming for 3,000oz. That's good enough on their part- they could hardly know what the POG would be several months ahead with all the volatility we have seen so a revenue guidance would have been a guess on POG. The market can do their own simple maths on their own assumption for POG. The trial mine is intended to produce info on mining dilution, expected head grades, recoveries, etc. So again expected revenue could not been known in advance with any certainty. They are providing info as it becomes available.
As it turns out, 10g/t is looking very conservative. They look like beating that by at least 50% and recoveries look likely to be high as well. I like companies that give conservative estimates that are then beat.

"DRM got their CBA facility and then a week later announced a capital raising as well."
Different stock. Does ABU need more than the ANZ facility? At this stage no. They shouldn't need it for anything much more than a backup for working capital/contingencies. Perhaps if the ML is delayed for many months the facility might be utilised towards its limits.

 
 


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