big boys start looking at african explorers?, page-27

Saw that article earlier and thought "what rubbish". AMX are not reluctant sellers.

Having been accumulating and following this story unfold for the past couple of years, it's worth considering some facts esp having redirected (part of) PIR profits to AMX and picking up another chunk of AMX.

Interesting comparison that: 3.1 moz (AMX) vs 0.2moz - but I digress!

Back to the facts.

Perhaps folk aren't aware of the write in PayDirt's sister publication Gold Mining Journal received Friday.

One of the most telling facts people have overlooked is the their land package and its prospectivity especially with the outstanding discoveries and 3.1moz JORC today. How much more will then prove up?

Essentially, AMX has any number of catalysts and its pretty clear the majors have taken notice (why are Taurus the latest insto taking 4.7% at $1.30?!).

Would'nt surprise me if CBA & Blackrock pick up more. Some big volumes going though. Anyway that's purely (my) conjecture.

Back to the facts ...

So what exactly has AMX achieved in such a short period and why might a bigger goldie may have a crack:

# Largest contiguous land package (~2,650 sq kms) in Burkina Faso (they're still acquiring adjacent tenements along the 125 kms sheer zone)

# 3.1moz JORC and counting (from a fraction of that sheer!!!)

# huge backlog of assays (GRY 50,000: how many AMX I wonder?!)

# Onsite SGS lab onstream next month (with almost immediate turnaround to the market)

# $25m 2012 exploration budget (where will this drive JORC be?!)

# $30m 2011 spent last year (with huge backlog of assay results. Where will this drive JORC to?!)

# PFS to be published v shortly, with ...

# DFS to follow

# $10 discovery cost (incredibly low)

# Explorer of the Year 2010 (peer group rating)

# very focussed management team

# Au ~$1,650 with cash costs $650 leaving still very healthy margins (don't see EU sorting its problems out any time soon)?

No, too many cataylsts methinks for this to get away.

I remember AND a few years ago ... 80c to $6

And RIV ... <$2 to $16.

Avoid the register at your peril!

"Put up, or shut up" that's essentially what management has said leaving to remain totally focussed on proving up the outstanding prospectivity of Batie West. 4moz ... 5 moz ... this is going to get bigger and someone, some day will want it.

Going Batie in Burkina!

Enjoy the ride!

Timbogold