current value, page-3

"At present levels there is no chance whatsoever of funding
to get into production"

People said the same thing about PRU back in the day. I've seen far less desirable assets get developed than what AMX have and in a far worse marco settings.

Don't let market sentiment skew your view on the fundementals. This is where good investors shine.

1. AMX have an enviable resource and land package which WILL deliver significantly more ounces over time.

2. POG going through another of its normal and healthy corrections. Everything that has pushed gold higher is still relevant and active. Currently gold being overshadowed by an artificially inflated equities market. Little real growth elsewhere....

3. [Supply/demand] vs [industry average total cash costs] nearing a tipping point and should help the POG find a stable long term base around $1350-$1400/oz over time. Strong physical demand is underpinning this also. New supply is needed to keep up with demand and co's will either mine for profit or shut mines down, further squeezing the phyiscal market and creating a floor for the gold price.


But lets say gold continues to correct down to $1000/oz :

All is not lost for AMX even in this case imo. You could push all other aspects of AMX aside and focus on the 1.6mil/oz at 3.1g/t (majority of this shallow and could report to its own pits or partial underground opps). Then add some new shallow highgrade oxide satellite deposits into this equation . This alone is a robust resource that will be able to handle much lower gold prices IF required. A bit of tweaking of the pit designs and you've got a smaller but higher margin operation that can weather a very low POG environment for many years, while still giving returns to shareholders over time.

But I don't believe we'll have to worry about going down that path , just serves as a decent plan-B if needed.

AMX currently priced at ~$6/oz . Only a few years ago the peer group average was over $200/oz ?? and some takeovers were attracting over $600/oz !

There is a massive disconnect here and even though you may not fully understand it or know how long it will last, it sure makes a compelling case for value investors like Taurus and co.

ps. Some interesting trading lately also and a bit of funny business going on for sure. Low volume, bot driven sell downs are best ignored or taken advantage of. Bots pushing it lower , but few sellers emerging which is a good sign. Shorts have decreased from 5.1 million to 2.2million total, so perhaps the shorting game is winding up due to a lack of supply.

Watch what happens to the volume if 17c is hit , should spike based on the recent patterns.