Its got more to do with the mood in the markets generally, than a failing of Kitto and the team imo. Sure , they're not infalable , but for instance ,they got no response from excellent drill results last week. Market just not looking atm, nothing they can do about that...
Here's another thing..
The AUD is coming off the boil again also , thanks to our mining boom showing signs of weakening and major mining stocks rolling over...
I would suggest that there are more than a few overseas investors in getting out of AMX because of this AUD weakness.
During the last gains in AMX , up from the bottom at 35c , the AUD rose quite significantly at the same time. Overseas investors got a double whammy here. A gain in the SP and a gain the AUD.
This trade is now unwinding and would be contributing substantially to the selling (not just in AMX either, it is evident all over the ASX since the AUD starting rolling over)
This is why we see the selling for seemingly "no reason". But there is a reason , and again, its not a reason central to the company , just the market in general.
Cheers. Off to lunch....
AMX Price at posting:
48.0¢ Sentiment: LT Buy Disclosure: Held
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