I tend to agree. I don't hold at the moment, but I'm watching with interest how they do their capital management. I was a shareholder in the distant past, but always keep an eye on my past investments, just to see how they are going. I'd expect an announcement at the end of next week if there is going to be one. A one (1) cent dividend would halve their net cash position, down to about $11m, which I don't think would be prudent financial management at this stage. They might be able to squeeze out half a cent as a divy if they want to risk it, but then they'd maybe need a capital raising some 6 months down the track, possibly in the new year.
Of course, they paid way too much for Dargues, what were they thinking at that price, it nearly sank the company, or had to potential to reduce it to a penny dreadful, so I suppose, in the end, the board have done a reasonable job to keep this above 30 cents a share.
With some luck, some prudent drilling, and resource prices holding up, they may be able to achieve some kind of range bound consistency in price over the next week, perhaps between about 25c to 30c, but it's an interesting one to watch, just out of curiosity for me, because I'm not going to invest anyway, but good luck to everyone here, and I hope you get some kind of dividend and that things pick up over the next year.
Gw
AMI Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
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