a little background, page-47

TTC,

You are spot on with the VRX analogy. Both their Phase I drilling and AHK announcements were excellent, but they came out on the worst day possible.

AHK's SP rise was justified, but exiting daytraders with shallow buy depth beat the SP down to the bottom fork. Eventually, the market will wake up to it again, but the smart money is already starting to accumulate.

With 28m shares currently on issue, there is another 10m to be given as part consideration for the acquisition, plus $4m. If we can raise the $4m @ 18c, this will add a further 22m shares. So fully diluted, there'll be 60m shares on issue and we'll have a project which isn't too far off JORC.

Now let's say this is worth a MC of 20m, well 20/60 = 33c.
For me, anything below 33c is good risk / reward. Looking at the chart, the 33c is also justified as the upside equals the downside. I'm in at 24c and will most likely accumulate a few more as funds become available.