Ann: Company Update, page-11

That release raises more questions than answers to me, in a classic "dog ate my homework" release, they are now letting shareholders know that miraculously - they found a bunch of drill data about the previous historical drilling that was unknown to them and had eluded the attention of the experts on Mt Freda and Golden Mile and just happened to appear after a delayed and half-arsed resource announcement! Why wasn't this info in the original resource model? Why go drilling in 2019 if they didn't know what previous explorers had done? And now conveniently, after the resignation of 3 directors they have found some new different consultants who haven't got all the data yet, and yet somehow already know that more deeper drilling is required at Mt Freda? Why you may ask? Because all their geological knowledge has resigned from AMG and they will be asking these new different geological consultants about where to drill if AMG don't like the numbers that the consultants come up with.

And what about the vague arm waving "there are 3 options for treating ore from Mt Freda/Golden Mile" but no mention of who owns these options? And what level of discussions have AMG had with these other non Round Oak Minerals ? Given how late the previous resource estimate was - did no-one think of trying to evaluate how much oxide and how much sulphide ore was present? Goes to my thinking that the 2019 drilling was so unfocused and disorganised that they barely knew where they were drilling, or why, and it definitely showed in their communication to shareholders.

Do they think we came down in the last rain shower?

This company has gone from an imminent gold producer, to an exploration outfit stumbling around in the turpentine bush looking for lasseters reef hiding in the undergrowth. I wonder how their timelines to production are looking now? At least they are burning less cash now to keep the lights on....

The entire announcement reads like a response to an extended "please explain" from the ASX.