AGS's behaviour since the sale has been pretty indicative of how this company has been run.
The smarter play would have been to find a small gold project somewhere (as an example) and get some consistent cashflow. Then use that to build the company. I've seen that strategy pay-off more than once. Instead, they've placed the big bet.
On the balance of probabilities, it is unlikely they'll find anything. That may well be the best outcome for remaining shareholders as it may convince them to return the remaining cash to shareholders.
Worst outcome, in my opinion, is for them to get a whiff of something that gives them an excuse to keep spending. There have been plenty examples of those on the ASX stringing out shareholders year after year.
AGS Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
