Ann: MT Survey Completed at Burra- Drilling Target Identified, page-37

Back to your question about management blister

As you can see - I am already in on the basis of the fundamentals (i.e. the ground they hold in the Cloncurry and Burra areas and pricipally the exploration results from Cloncurry), so assesment of management wasn't my top priority as I tend to sometimes take a punt on the ground despite management, but your point remains that good management can make shareholders money even with an average project and bad management can cost shareholders money even if the ground/project is excellent.

Speaking of the ground and exploration potential, although its a bit old, this Independant Geologist report in the 2017 AMG Prospectus (Geology from page 74 onward):

https://www.asx.com.au/asxpdf/20170525/pdf/43jhtqnqppc1xw.pdf

has all the background of what ground they have put together.


From my quick look at the board here are my thoughts (note nearly all of them share time working for Coalworks):

Yosse Goldberg: a well known "identity" with a colourful past in real estate and resource projects in Australia and overseas, seems more of a figurehead and spruiker appointment to me.

Dr Andrew Firek: looks like a legitimate scientist and his corporate history of defending Coalworks against the WHC takeover, and the Zinifex takeover of Allegience seems like he can't be "low-balled" to me anyway.

Matt Morgan: A geologist, I have met people in the industry, who have good things to say about him, he was inherited from Eumeralla Resouces Limited (EUM), he has a lot of technical experience and put most of the SA and QLD tenements together to form AMG, but not so much in corporate M&A activity.

Geoff Kidd: seems like a reputable technical guy, founding partner of Segman and Scantech and mine building in Australia and overseas, again ex-Coalworks exec, seems to have lots of good scientific and industry connections.

I didn't bother doing a lot of research on the CFO (Acoountant) and Company Secretary, not super important with early stage mineral explorers.

Obviously we have to address the elephant in the room that is the part time involvement of Wayne McCrae (ex CDU founder) and this does concern a lot of people, but I reckon they have brought him on for his intimate knowledge of the gold tenements in Cloncurry (he used to manage them before he was involved in CDU). In my opinion he would probably have learnt a whole lot about dealing with the Chinese after how he got removed from CDU and the subsequent Chinese involvement in CDU, note that he owns approx 24% of AMG.

So with AMG BoD you get lots of coal experience and some M&A runs on the board and experience of being the Target in takeovers, lots of board experience in the technical side of mine constructions and procurement although maybe a little light on for Cu and Au exploration and mining experience. There's no doubt these guys will do a deal if the offer is really good (too good to be true), and it obviously goes without saying that this is still a highly speculative mineral explorer with all the consequent risks and rewards that go with that.