Ann: Quarterly Activities Report, page-42

Both SFR and (AMI up for debate) have decreasing mine life.. hence the discount. That’s the only issue I see around this company and why I sold at 61c a few months back. The need to acquire an asset is critical for this company imo and I believe the market is highlighting this with said “ discount “. The cash on hand plus FCF is great but debt in the current climate isn’t that hard to finance. Capital needs to be aggressively deployed in M/A, commodities only going to run hotter this next few years. AMI needs to act now otherwise it’ll get left behind. Yes it’s own ground holds promising material and needs to be scooped out but that all takes time.