price below 4 cents now, page-23

I've personally learnt many lessons throughout the AAM experience, here are a few of those points:

1) Understand at least the basics of great capital management and identify where companies are making poor decisions or issuing stock to professionals/sophisticated investors at mates rates and investigate if its likely to occur again.

2) Ensure the company has undertaken a feasibility study to show the operation is going to be profitable, and make sure that this profitability is on a reasonable margin so that there is room to move if some components are negatively effected.

3) Investigate the feasibility study further and compare resources, costs, profits to other operators in the industry and geological area.

4) TAKE PROFITS! I could have booked 250% profits at one stage, however i chased the dream that many were spruiking of a multi-bagger in the making and believed it myself. Even if i'd sold half my holding at this point, i'd still be infront now and thats something i'll definitely note in the future.

These are just a few of the points. I agree in part with you GC, I think its terrible a company can get away with releasing incorrect JORC figures which i'm not sure were ever verified by an external party. Not only is it terrible this is allowed to occur, but that the JORC can be so incredibly wrong and yet no action is taken by any regulatory bodies.

There has been one query asked of AAM late last year, since then production was stopped due to rain, cash costs exceed cash proceeds and debt continues to swell, all will no follow up from any regulatory body. This would make a great case study to present for future small cap investors and to the government to express just how toothless the regulatory tigers really are.

Investors in a fund manager called Trio are compensated for funds going missing in the virgin islands, but small caps operating in this country are allowed to swell their own remuneration, receive discounted capital, and provide dodgy reports all to fulfil their own needs without investigation or lawful action. Pretty dissapointing really but I guess thats the nature of the small cap gain.