Yes, AMG is undertaking a substantial fund-raising (read ASX announcment of Tuvatu acquistion for the reason). Terms and price are not publicly announced as yet. Number of shares to be issued depends on price they can get. Anything over 4c would be good, but I could live with 3c.
How to value AMG? For a mining stock one can predict the likely share price by dividing the project value by total number of shares likely to be on issue. An order of magnitude profit margin for Tuvatu would be somwhere between $25 and $250 per oune of gold.
Read the ASX announcment for Tuvatu to find out how many ounces AMG are buying and how much cash they need to raise, get out your calculators and do the numbers. It's an informative exercise.
R/happy
Tipper, why not come over to SS and compare notes?
AMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
