I emailed ABU to find out why the drilling results had not been...

I emailed ABU to find out why the drilling results had not been announced yet. I use to work in the companies who process the drill samples and determine the gold concentrations in Kalgoorlie (40km from Broads Dam) and it usually does not take longer than a week.

This is the email I got back:

"Dear ...

Thanks for your enquiry.

The normal process of assaying procedures has been followed and we expect the multi element assays shortly.

Regards


Imants Kins
Executive Chairman"

All and all, the announcement will be brought out shortly. The Broads dam assay results will make AGV go boom boom!

Currently I believe AGV is undervalued because:

1. The low volumes AGV trades it means that traditionally buyers are forced to sell lower than the market price.

2. Gold has increased a lot since the company float and yet the share price has fallen unlike many other gold explorers.

3. ABU (the 40% JV partner in Broads Dam) has gone up 300% in speculation that the Broad's Dam results will be very positive, whereas AGV (who owns 60% of the JV) has only gone up 25%.

Lastly, why I think AGV is a better investment than ABU:

1. As stated before, ABU has already seen large price rises in preparation for the announcements.

2. ABU has a 40% stake, but it has to work extremely hard to get that 40% stake. It has to spend at least $1.7 million to get the stake and do a lot of work to get a 40% interest in the project. In my opinion, ABU got shafted with this JV arrangement and the one who ultimately benefits is AGV.


As always, DYOR. Be quick, the announcement will be released "shortly".

Good Luck