I tend to not ask questions as the database of Q/A is such a rich resource. One small gold company, ABI:ca. has only has one question, asked by uhhh, me in 2023. It has been a few years and I do still hold my small "risk on" position. But recently, with the soaring price or GOLD, it has taken off. Just curious if you could have a quick peek at it and provide any insights you feel are valuable. I love the fact that it is Canadian, has potential leverage with proven and probables, and could have it's following increase due to the present sector interest. Love your service.
ABI has doubled this year, bringing market cap to $111M. As a developer, it has no revenue yet, losses and negative cash flow. Debt is about $16M. It continues to develop mining at its Sleeping Giant mine, and produced its first gold pour and about 475 ounces in the Q3, after a decade of inactivty. The company targets ramping to 30,000 ounces annually within 18 months using 45% of the 250,000-tonne-per-year mill capacity, supported by measured and indicated resources of about 173,000-180,000 ounces plus 240,000+ ounces inferred. There is always risk in such a ramp up, but if things go well the stock should get re-rated higher. Insiders own 28% and have been net buyers in the past six months. We think it has potential, but also risks. But if held to date, we would be fine continuing to HOLD to see how development progresses next year.