Yep. Market Cap now approx $82m. Assuming they have already spent $5m of the $9m planned spend for Dec Qtr, there should be approx $30m cash still in the bank. Therefore the current Enterprise Value (EV) is approx $52m.
Regardless of metalurgy issues at parts of the Konkera resource, on any measure an EV of $52m at a SP of 33.5c is extremely attractive considering the 3.1m oz resource, and the huge exploration potential of AMX's 2600QSM tenement package including 150km of continuous shear zone.
I am assuming that the gold companies that were interested in AMX when they were trading at $1.30 must be very interested now at 33.5c. It is common that when a data room is opened and due diligence is allowed as per the process early this year, a sunset clause is signed by the inquisitor that states no takeover for up to 12 months. Not sure if this occured with Ampella but highly likely. May be other parties having a good look now anyway.
We are in new territory here with the SP as it is. Could drift down a little further but could easily gap up on monday to 36 odd cents with a lift in the overnight gold price. Never thought we would see sub 35c again but happy to be given the opportunity and I have bought back in again at 33c after being out for months.
Cheers Sarge
AMX Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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