I listened Q&A part of the conference. Thanks to Privare Investor Anthony who asked the most important question about the AFR article and share price drop of 30%.
After Dargues debacle, i can not believe the management played a blunder game again and ripped the existing shareholders. They burned about $30m in last three months, SP is very weak due to its own management and market condition, and selected this time to raise equity!, they know that Federation can not be self funded , why not wait for a right moment to raise capital or funding. They are making so many changes in operation at a time and therefore burning cash.
Before we waited for Kairos output, but no result. Now waited for Federation FS, negative impact to result and Dargues is still burning cash. AMI now in very tight cash position but the management still spending on exploration and growth capital.
A very tough time ahead for AMI, can't imagine - how this management shaped this company to a dire situation within last 2-3 years.
With a lot of pain still buying at 0.15c, started buying from 0.7c.
DYOR.
Regards, Gain 7
AMI Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)