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16/06/20
10:32
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Originally posted by KelpieInvestor:
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I’m still invested in AMG. I’d rather risk losing the capital I have invested then sell (as you pointed out I’m very young) and I agree there is potential in AMG. Where you and I seem to diverge is the current situation... I don’t believe anyone on here has explicitly disagreed with the general notion of ‘give the new guys a go’ however it should be recognised that the position AMG is in is now terrible as a result of the previous management/performance/actions of the company. At some point AMG is going to need more money, particularly if they are going to be doing more drilling and clearly they are going to have to re-do a certain resource estimate. This is going to require time and money that ‘arguably’ AMG don’t have especially when it comes the money part of that. I honestly wouldn’t be surprised if AMG follow the path of certain other exploration companies and that is a distinct possibility. The announcement/update was in my opinion, of a better and more transparent standard than previously released by AMG but that doesn’t mean anything to me if it doesn’t become a trend and the recent isn’t followed by further updates which also need to include a plan of how they spend their remaining cash on hand (and raise further capital)
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Agree 100% with you, K. However when you have a punt at this end of the market in a digger and driller you accept that there will be dilution because they have to raise funds through a CR ((vast majority of the times) and that there is a good chance that you may be disappointed. IMO this is a better bet, atm, than many others at this end of the market.
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Meteor :
16/06/20