Mid-Cap Stock AMX Ampella Mining. This is a successful West African gold exploration company that has accumulated a 4 million ounce gold resource and is arguably the largest undeveloped gold project in Burkina Faso. The company has $42m in cash and an active exploration program to build on the already very impressive resource base. Their intention is to build a 200,000 oz per annum gold production plant with healthy cash costs under $800 per oz where gold is currently trading at $1630.
The key highlight is that the stock has been sold down on incorrect rumours and short selling from $3.50 to today's price of $0.57 So there is a lot of upside. Technically it has broken downtrend and is now likely to reverse trend. I think 20% is achievable within 3 months.
Small-Cap Stock MYG Mutiny Gold is my other. Planning a 55,000 oz per annum mine with high grades and a completed Feasibility Study very close to funding approval and an IRR of better than 45% at 12c this looks like the right time to get in with nearly all the risk behind it now.
