Will take a big effort to turn the negative sentiment around.
The hardcore like myself will continue to support the long term success of AIM, but in the foreseeable future the trend is downwards.
Mumbwa in two months may be just another patch of dirt which requires a lot of drilling to define any resource of note. We had the gunslinger telling porkies and pumping up everything including his bike tyres on the last time Mumbwa produced any results. The reality was, it was only positive results from one drill hole, hardly enough to build a story around, but the gunslinger did.
Perkoa is continuing and it will take until 2009 before ore is being stockpiled of any consequence. This is assuming all goes well and no hiccups, which unfortunately are inevitable. In the meantime, funds continue to be used and the cash box slowly dries up. Those considering signing offtake agreements will hold off until they see AIM begin to weaken at the knees and thus improve their bargaining position. Financers will also be holding off until offtake agreements are finalised. Then we have another wet season to negotiate and the current drainage work will once again be tested. Time then rears its ugly head again. This project then falls into the hands of those with huge cheque books that sit and wait and watch. They will wait.
It would be great to be able to put spin on the situation, but the reality is saying otherwise.The project has made steady progress of late, but for 2 years it was mismanaged and left to dry. Recent announcements have been honest without any spin and they do not have the content to inspire the market. Location is also an issue which is sends shivers up the spine of those with a dollar to invest.Logistics of transport and costs are yet to be fully understood. Unless there is a positive announcement out of the blue, which no one anticipated, this project will take a very long time to attract investor interest again.
Unfortunately the trend is too poor to suggest otherwise. If the $50million had not be secured last year she would now be a dead duck.
It may be the scenario for a major player of having AIM use its bank account to get the project well advanced and then wait until it has lost any negotiation power and pounce for a fire sale deal.
Who knows.
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Last
79.5¢ |
Change
-0.050(5.92%) |
Mkt cap ! $166.0M |
Open | High | Low | Value | Volume |
84.0¢ | 84.5¢ | 78.5¢ | $311.6K | 383.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 49999 | 79.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
80.5¢ | 64742 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 49999 | 0.795 |
1 | 3000 | 0.785 |
1 | 448 | 0.780 |
1 | 5000 | 0.770 |
2 | 21622 | 0.755 |
Price($) | Vol. | No. |
---|---|---|
0.805 | 64742 | 3 |
0.815 | 6300 | 1 |
0.820 | 8970 | 2 |
0.835 | 26131 | 1 |
0.850 | 50000 | 1 |
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