Hi DamoB, good to hear from you.
Your post just preceded the release of more outstanding assay results this morning.
Unfortunately (and yet again), the ann was poorly written and deliberately understated (imo) and therefore probably won’t get the pick up that it deserves.
So, we’ve pulled out the abacus and done some calcs which reveal just how good these results really are. NB we’ve only included the Cobalt and Copper assays to come up with Cu Eqs (i.e. we haven’t included the credits for Zn, Pb, and Ag, so in the real world these numbers would be higher still):
Hole 181 22m 3.01% Cu Eq
340 53m 2.38%
341 33m 2.53%
342 18m 3.07%
344 39m 1.86%
358 18m 4.01%
359 29m 3.27%
367 20m 2.14%
370 32m 3.45%
395 25m 2.40%
400 53m 2.12%
401 36m 3.95%
Therefore, overall, these 12 holes average 31m at 2.85% Cu Eq!
Also, let’s remember that Copper grades around the world have been falling and today average grades are around half a per cent (which are nevertheless being mined profitably).
AML’s results are outstanding compared to this; typically 2% Cu Eq to 4% (i.e. 4 to 8 times the world average) and, now this is proven to run over about 15kms in length along the FRF, with a good probability of another 10kms or so on top of that (the AML geos at the AGM said that they thought the resource runs along the entire length of AML’s Walford Creek holdings)!
This is absolutely world class and in comparison, the SP is a total farce. Yes, there are serious management problems and anyone at the AGM would have witnessed just how reluctant the Board were to answer shareholders’ questions or to try to clear up previous mistakes.
However, in spite of this, we believe that AML will be re rated significantly upwards.
We don’t understand why the Board are so keen to keep AML under the radar but upcoming catalysts will make it harder for them to do this.
The Board said there will be a resource upgrade in Feb which should cover the whole of Walford Creek (not just Vardy and Marley).
Following that there will be a feasibility study which will reveal to the world just how profitable AML will be (and HO will need a bigger mail box to cope with all the takeover offers)!
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