From a charting perspective AME.V looks to be moving out of a consolidation period, and showing potential to trend... as such for a low risk buy in..... any back fills to support would fit the bill... AME.V
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Abacus Mining & Exploration Corporation: News Release
12/17/2010 6:31:15 PM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Dec 17, 2010 (MARKETWIRE via COMTEX News Network) --
Abacus Mining & Exploration Corporation ("Abacus" or the "Company") (TSX VENTURE: AME) announces the Company has agreed to grant 600,000 incentive stock options at a price of $0.24 per share for a period of five years.
The foregoing is subject to regulatory acceptance.
On Behalf of the Board,
ABACUS MINING AND EXPLORATION CORPORATION
James D. Excell, President & CEO
About Abacus
Abacus is an exploration and mine development company with a 43-101 compliant positive preliminary economic assessment report (announced June 22, 2009) for its Ajax copper/gold project located 10 kms southwest of Kamloops, British Columbia. The report contemplates a 60,000 tonne per day operation producing an average of approximately 110 million pounds of copper (approx. 50,000 tonnes) and 100,000 ounces of gold in concentrate annually. Sensitivity analyses approximating metal prices (US$3.00 per pound copper and US$1,000 per ounce gold) in the assessment indicate a NPV of $1.46 billion discounted 8% over a 23 year mine life, with an IRR of 35.4%, cash costs of $0.90 per pound copper, and payback of 2.0 years. The Ajax extension remains open along strike and at depth. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
GLTA Lostoutwest
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