Cheers vcr999, Yes we've been through some tough times and listening to the points of view of others is helpful for all. I was furious about Dragues because it took 5 minutes to look at the grades and intervals, and the price we paid, to know it was a bad deal, I also looked up a certain gentleman who happened to appear in the press for certain reasons. Having stated it was a bad deal, I posted that the Board would have to cap his spending. They didn't do this and cash flew out the door at an horrendous rate. I did all this posting in the first months of being informed of the purchase, and again I criticized the purchase being done without shareholder approval on the basis shareholder approval is a vital part of the due diligence process, the more so when the amount of money involved was considerable. So 63c turned to 9c and we've also suffered heavy dilution. In addition, I can't remember the poster who was very vocal about a need for change at the top so in a collective way, I think we all help expedite the shift to current management. It was all for the better.
As for the drop in price from 22c to 17c on no news, I think the company is clearly a buy at 17. For starters the 5c drop in share price knocks $85 million off the M. C. for no reason. Then we have $116 million in the bank so the company, being valued at $287 million MC means everything else is worth $171 million. This is absurdly ridiculous. Traders have been working on AMI for years so I've no doubt, those buying and selling in large quantities are doing very well. A 5c change on say 20c is a 25% movement if you are inclined to trade. I think we'll easily go back to 22c and soon. I won't be selling till we hit 30c and then only a small percentage of my holdings because I'm happy to hold many shares for a few years. There is a lot of unexplored territory and we've already got 8 years mine life, so I'm not in a hurry. However, I don't think I'll have to wait too long to sell some at the 30c I'd like.
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