AMX have raised sufficient funds to undertake a detailed Phase 3 program which should result in an inaugural resource estimate at its two most advanced prospects Konkera Main and Konkera North on the Tiopolo Permit, in the southern half of the tenement package.
We also expect to see, perhaps before the end of the year, an inaugural resource for Konkera Main and Konkera North and the continuation of RC and diamond drilling into 2010, increasing resources to enable a scoping study for a potential gold mining operation.
We accept that over the last few months there has been a heightened level of expectation of exploration success and this has been reflected in the share price. However, we do not believe this is misplaced. We think AMX provides an exceptional opportunity over the medium term for the higher risk investor.
AMX Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
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