What impresses me is AMX has been getting planty of wide intersections - around 50 metres - with good grades - 4g/t plus.
The market currently has gold stocks compared to the gold price trading around 2008 GFC crash panic lows. The market has become totally irrational imo.
While I don't mind the speculation, I really don't want a takeover, because the upside in AMX as market sentiment towards gold equities improves and the gold price starts another leg higher will be many times more than what any opportunistic bidder will offer in today's unloved gold equities market environment imo.
Based on AMX's $10 an ounce discovery cost, and with $25 million budgeted over 12 months, I'm confidently expecting AMX's gold resources to increase to around 6 million ounces over the next 12 months - maybe higher. A ridiculously low $100 an ounce then values AMX at $600 million compared to today's $250 million approx.
If market sentiment was more bullish, just $300 an ounce would value AMX at around $1.8 billion compared to today's $250 million approx.
So we can see how in the right market environment for goldies this stock has many hundreds of per cent upside imo.
In addition, speculation/guesstimates based on what AMX has found and is available to find - eg open at depth - open in all directions etc. - could well lead to views that AMX is sitting on much, much, more gold than its upgraded resources over the next 12 months imo.
AMX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
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