not sure mate. don't think theres an exact formula. Depends on so many factors and each project is vastly different from the next.
At this stage , i would forget about a t/o in the near future (weeks/months) . The gold price is going to get more volatile and the major gold co's are getting thier sp's absolutely crushed.
I doubt any gold producers want to tell thier shareholders they are going to spend 100's of millions of dollars buying a junior , when they can't manage to keep thier own sp afloat. Nothing will happen until the gold majors start to bounce back imo.
Once again , the timing is just not right for poor AMX.
But this doesn't mean there's not opportunity here.
They will get taken out , but now we have a longer period of time to accumulate. Look for buys around possibly 78c - 80c imo. Or at least wait the POG settles down (it realistically could end up lower than 1500 in due course)
AMX Price at posting:
92.0¢ Sentiment: Buy Disclosure: Held
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