Seriously - I think AMG has got what it takes. I'd imagine that recent director buying is aimed at keeping SP hovering near placement price. The lack of broker support is not surprising - they will not support projects in a falling market, no matter how compelling the economics, so AMG have had to hibernate during the recent lull in the ASX200.
I know I keep sounding like a cracked record - but even the mighty Mincor got jilted at the altar by a Perth broking firm when they first tried to raise money to buy the Miitel nickel mine.
What traders don't understand is the very serious cash that is looking for ADVANCED development projects. The day-to-day SP is not the main consideration for these institutional investors. And you're quite right when you say that the existing underground drive goes into the heart of the orebody. That potentially saves months of digging and millions of $.
Compare/contrast AMG with AND - there's a world of difference between the maturity of the projects, but AND is a traders favorite whilst AMG is a wallflower.
I'm quietly hopeful for AMG - but it is getting lonely with me blabbering on.
Come on folks - join the discussion.
R/happy
AMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
