Ive become quite sceptical now. Although i understand the argument that they are good at managing cash, if you were sitting on potentially a world class asset, during a boom for that particular commodity, wouldn't any other public company raise adequate funds and aggressively drill the damn thing?
If they do a standard placement, 15% + extra 10% = 25% of current scrip and obtain 20cps again that will raise almost $5 million before costs. For serious, aggressive drilling that might last a quarter. These guys could probably make it last 18 months but is that aggressive exploration and what is needed for a project like Bitterwasser?
AM7 Price at posting:
17.0¢ Sentiment: None Disclosure: Held
