Nice post mate.AMG is cheap at the moment in my opinion.I am in...

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mrbiggz1979

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28/08/20

17:47

Post #: 46907267
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Originally posted by JandJ: ↑

I'll just make some comments which may help you manage your investment here.

Firstly Wattle Dam revisited is not for me. I held Ramelius RMS while they mined the Wattle Dam open pit and remember well the decision they took to build a portal on the side of the pit to follow the rich shoot underground - I thought at the time that was the wrong decision and that they should first have kept digging the pit till they were sure there was no bulk ore left to mine. Also I remember how as they completed each underground level they had to drill to find the shoot to design the next lower stope. Nevertheless I held and, as I recall had a nice profit when I finally sold even though I overran the SP top.
Ramelius walked away from Wattle Dam (they went to Mt Magnet, I think) with about $90 mill in the kitty - such is the result from mining really high grade ore (10 g/t average) -- RMS is now a billion dollar capped miner - but shock/horror the SP is only about 50% up from when I sold !! Take note.

Secondly, there are more Wattle Dams on that trend - I am sure of it - but undercover and damm hard to find. They will have a small footprint but be super rich, unless there is a monster. lol, everyone dreams of monsters !!

Thirdly, SAM could be the key to success - I really like that tech. But it was tried south of Cloncurry by Ausmex AMG and came up with a huge target which was nick named The Sausage. The sausage was a dud, and I left AMG with one of my worst losses.

Fourthly, finding the next Wattle Dam is a job for a rich company - luck will be the only thing which will support this current program - I hope it works for you, and as I say it is not for me. Neither was it for RMS with it's 90 mil kitty.

Fifth, POG at USD2000 an oz is a game changer for gold explorers - it means there will be plenty of capital to use in the hunt if progress can be proved, plenty of dillution too!! Just look at Mako Gold MKG, a 20 mill capper who picked up $10 mill last month for its high grade in West Africa.

From me sincere GL and DYOR. Current day's price action may mean that there is good rock coming up out of the RC.

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Nice post mate.
AMG is cheap at the moment in my opinion.
I am in both MXR and AMG as I think they have potential.
What else are interested/invested currently.
Cheers

MXR Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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Nice post mate.AMG is cheap at the moment in my opinion.I am in...

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Nice post mate.AMG is cheap at the moment in my opinion.I am in...

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Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

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