Hey guys, hey goldfever, thanks for the update. I think I've settled a bit now.
The move by Alcaston to go busking in London is certainly a positive. In the past I've noticed the Londoners in general seem to appreciate genuine mining projects better than the local brokers. I'd imagine raising $12m right now should be a pushover, with the gold bull on a rampage right now. With restrospect the trip up with Bell potter may prove to be a blessing afterall as AMG could not have timed their insto presentations any better.
Come next week or the week after, I'm expecting to see an announcement "Placement heavily oversubscribed", with the attendant mad rush for shares shortly after. That is, pending no major hiccup in the current gold rally. I'll probably look at offloading some in the 23-25c, otherwise if it doesn't hit my targets I'll happily hold it for the long term.
Even disregarding Tuvatu right now, AMG only has a market cap of $4.5m. This is despite a porftolio of top prospects, so I don't think in anycase it's grossly overpriced right now.
Happy, the MCR comparison makes my mouth water but I doubt MCR would be anywhere near where it is today without a doubling to tripling of the nickel price the past couple of years. However having said that I'll take a tripling gold price anyday.
And yep, from fleeting observations it would appear AND vs AMG would be a no contest, either the market hasn't woken to AMG yet or AND is relatively overvalued.
AMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
