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27/07/18
16:55
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Originally posted by speccy
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prawnman, your enthusiasm is appreciated but you are a relatively new poster (last few months only?) and therefore can't possibly understand all the important issues at play.
We all agree that the drilling is the most important but the reality is that there's a lot more to running a successful mining company.
Perhaps you should pay a little more attention when a really knowledgeable and experienced poster like ozblue offers their counsel and opinions.
HC isn't just about overlooking any problems and boosting (although it tends to attract those sorts of people and crustaceans).
Assuming that you're trying to make a few $, you should be aware that very experienced people believe that AML would now be approaching $2/share had mgmt not stuffed up the acquisition of Century (which they had a 2 year head start on and is demonstrably worth $650m PLUS would have meant that AML wouldn't now have to spend $100's of millions building a plant) AND that is only one issue (unfortunately there are many more).
This is unquestionably a magnificent resource and all SH need mgmt to step up and to act in all SH's best interests. It is, for example, very unusual that the Board Chairman has accepted a consultancy position from the biggest SH and creditor (OCP). SH are entitled to ask questions and receive proper answers from mgmt. In the absence of this SH will take appropriate action.
One day you will have a better appreciation of this position.
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I hadn't registered the Century aspect of the AML story.
This link may suggest that management didn't "stuff things up" as much as implied.
It would have been great if AML could have sealed such a deal and had Walford Creek as well, but for any relatively cash poor mob such a price would always have been a real stretch.
This article is the limit of my research, for now , on this topic so may not be the full story.