Interesting releases today. If any other 16 cent junior drilled that intersection, their share price would have gone up significantly. Look at Talisman and Australian Gold & Copper in recent weeks. Other than the word spectacular, it has been poorly sold. AMI will drill in again in 2025 FY apparently - instead of telling the market they are scouring the eastern side of Australia to get a diamond drill and start follow up exploration tomorrow. This was a free kick and they scored an own goal.
I also didn't fully appreciate that the Nymagee area is one of the wettest parts of the continent. I have yet to read or hear of any other NSW miner whose project has been heavily impacted by rain. It seems Federation has been constructed in a swamp or on some geographic low point.
Anyhow, what they have inadvertantly given is a good entry point for those have the confidence that the never-ending litany of bad luck and bad decisions is finally in the rear view mirror. Buying more shares at this price is going to be a life changing event - one way or another.
AMI Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
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