I think we are all hoping AAM are working hard to get production running profitably. The issue is that we would like to be kept informed as to how they are going on a regular frequent basis, rather than getting a progress report every 3 months.
Managements attitude seems to be "We have given you a forecast, and thats all you will get" Last quarter they broke even. They have told the ASX they expect to make $2M surplus next quarter, which by my estimate is less than their forecast production, but even so is satisfactory.
I too get the feeling AAM is working hard to get profitable mining established, and that means skilling up a workforce to match the orebody and the plant, which takes time. You suggest morale at the mine is good; I hope you are right. Others have suggested the opposite.
The morale of the shareholders will improve only when they get a good report and regular updates. Then the SP will start to reflect the value of the mining operation.
AAM Price at posting:
10.5¢ Sentiment: ST Buy Disclosure: Held
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