I agree with Next time and Gooch. The last thing we should be doing is trying to raise capital at the current share price to build a production plant.
I think this is a good spot to be buying shares and looking for the gold price to rise and/or exploration success to lift the share price to multiples of todays price before any capital raising for further exploration or mine build.
I think the risk here is that the gold price and hence the share price will remain low up till the time they need to raise more capital, bringing dilution, which judging from the quarterly report would be 18-24 months away.
I'm backing a turnaround here and am not concerned if they don't produce a gold bar for the next three years. If gold moves back above 1600 we should see people falling over each other to buy shares in AMX at anywhere near these prices.
Pretty good action today too and pretty solid since the quarterly but a long way to go yet.
AMX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
