can only agree with the report... -the resource is there; -the plant is running (despite what the negative posters would like one to believe; and - what is finnally needed is a qtr of being cashflow positive (after one and half qtr's of production to iron out the issues) to show that it is now a cashflow positve plant; -hopefully they were conservative when they stated to the ASX they expect to make at least $2m net profit this qtr, with a MC of $23M that is a minimum annualised profit of at least $8m; -if they can prove a minimum $2m profit this qtr we could then expect the profit to increase over the next qtr with more cost efficiencies;
A couple of other points: - from part III of the report it lists the top 25, it seems whilst AAM was No.14 it was No.6 out of the Australian companies listed- although whilst i strongly agree with their No.3 IOH, I am not confident of TRF which was No.7 (no.2 out of Australian companies). - Also Kiener was on CNBC this morning mentioning he believed Gold would go to $1,650-1,750 with most mentioning as well that they expect the Aussie $ to retrace a litle against the $US to $0.90c. This would be a double bonus for AAM and we could expect profits to only increase.
AAM Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
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