re: Ann: AMPELLA CONFERENCE CALL FOR INSTITUT...
Awesome!! The market has priced in now almost the entire write-off of the Konkera Main/East Resource sulphides (~ 38% of the total 3.1M oz resource)!! Wonderful opportunity for everyone to jump in now!!
If assume that the market expected recovery rate of 90% and AMX is only getting 71% recovery rate for Main/East sulphide ore, that's 20% shortfall. 20% x 3.1Moz x 38% = 235koz! This is approx 7.6% of total resource. But since the release of the news, the share price has dropped from $1.70 to $1.11!! This is a wipe off of about $116M mkt cap!
BlackRock's average price of entry when they bought about 7.6M shares back in Mar-Jun'10 was $1.60. If you buy in now, I think you're smarter than BlackRock!! =)
Upsides from Foumbiri and Doubema is a sweetener to this whole deal.
I've jumped in the bandwagon - but I'm running out of cash to invest more at this stage. Haha!
Try comparing this company with PIR, or PVM or GMR...this is really a good deal!
AMX Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
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