MJS, I see little point in dividends or capital returns. They...

MJS, I see little point in dividends or capital returns. They have the business at a point where it is churning out very nice cash flow (for its size) and they very clearly have a mountain of opportunities to add value. For every dollar invested in exploration I can see them adding $25 in asset value, and that is based on a pretty conservative hit rate. No, I must disagree with you on both your wishes. This is the time to put the foot on the accelerator, in terms of employing cash flow to create even greater future cash flow and asset value.

A 2c dividend will achieve little; it would represent a 3% yield at 60c. I doubt any yield investor would look twice at it.

People are attracted to this type of stock because of what the Exploration fellow at the AGM said...something along the lines that this current exploration programme has the potential of adding $16US/share to the stock value of AMU. That is certainly what got my attention.

Just my view for what it is worth. I think what is more important in terms of attracting the attention of the market is the maintainable free cash flow generation of the assets. I am sure that in the near future, the company will begin promoting this apsect. That is what I would be doing in their shoes.

Mind you, it would not surprise me if there were a small dividend, because I actually think they must be accumulating quite a lot of cash over and above their $20m exploration programme.