ABU

If you had digested the announcement today by ABU, you might not have known that Old Pirate was expected to be THE area with the highest gold concentration. Maybe, the trench sampling was purely along the vein and therefore was a biased sampling. I only want to know why this area was not drilled earlier if the management had already known that this is the jewel in the crown based on historical data.

The share price closed at 7.4c... only a tiny rise relative to the stunningly impressive result. Bob Brown would be so annoyed that the mining tax does not apply to gold! I am so sorry Uncle Bob.

Currently if anyone asks me what shares to buy... I would say, out of my own portfolio, I would top-up ABU, IGR, KMC and for added risk CTP. CDU has bolted but based on history, the final JORC resource may disappoint.

ABU has a lot more analysis results pending; the drilling has been done. If the results are only one tenth as good as the one from today, it is still good. Note that trenching results are only for guidance for future drilling sites and do not quantify the total resources.

If you are reading this note, and you still have not bought any ABU shares after my repeated ravings, then you are wasting your time and IQ. Go fly a kite! Or watch sports!