ABU
http://www.asx.com.au/asxpdf/20111222/pdf/423g3nqprjy7n6.pdf
I am in KLIA Pan Pacific Hotel. I saw the above announcement and expected the share price to get a boost after recent fall. I last topped up at 7.3c and thought it was a good buy after a great announcement. Today I collected some at 5.7c after it fell by 0.1c.
This trenching result is probably the best in Australia currently yet sellers are dumping! Price of gold is still above $1600USD per oz. Note that ABU is an explorer only, not producer. And trenching is just surface scratching. But if you look at the grades, there would have been a gold rush to grab the gold as it is on the surface.
In my gasman opinion, this is the best gold stock to buy, based on what they have found, finding and what they will find based on historical mining. Because it has the largest area for exploring in Australia, you can expect a good JORC resource eventually. Of course, nothing is for sure (cf CDU). Stock market investment carries a risk but I like "calculated" gamble. What I cannot believe is this blog is known to a few brainy people, it is so hard to believe that only one reader has invested in it. Even crazier still, the price went down today in line with market sentiment.
posted by Club Mulgoa @ 5:24 PM
2 Comments:
Took your bait and bought a small parcel @$0.055c. Agree that ABU has lots of potential. IMO its SP should head north more if it goes ahead with serious drilling to verify its resources.
Don't know whose comment is that ("Unknown") but it is absolutely madness to ignore ABU and sheer stupidity to sell it.
If it had been in the 19th Century or early 20th Century, that shallow and that rich a trench sampling would have sparked a gold rush.
The serious drilling will come soon... I hope. But it is production that I want as there is enough proven already.
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