According to my knowledge, AMG may have about $1.5m cash on the hand now. If AMG starts the mining for Mt. Freda, they need about $5m at least for all kinds of preparation works, for example, mining contractors, consultants, logistic etc. AMG has 3 options: - Capital raising - Loan - Sell asset From the view of management and major shareholders, AMG may prefer project loan. However, it will increase the risks for AMG because the interest rate will be high and gold price may be down in the next coming months. Sell asset is not very smart at this stage. CR should be the best solution.
AMG Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
