This has probably been discussed on their thread but I went through the announcements for AMN and found something strange. I briefly outline the announcements below:
16/08/16 Drilling commenced to convert 4.3mt indicated to measured and 19.1mt inferred to indicated
4/10/16 Drilling complete. Updated resource Q4 2016
13/01/17 Updated resource expected Q1 2017
04/04/17 No mention in announcement about updated resource. Its disappeared.
26/07/17 Expanded tenements but no mention of drilling yet (this could expand the resource 20%)
So what went wrong with AMN's drilling program? They failed to convert the 19.1mt inferred resource to indicated and the 4.3mt indicated to measured.
That means they are doing a feasibility study on a 4.3mt deposit! Hardly earth shattering!
Maybe RWD had a very good reason to abandon Lake Mackay?
KLL Performance Rights - Major Red Flag, page-7
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