Ann: Quarterly update and outlook - September 2022, page-25

The Base Metals which AMI produces (copper, lead and zinc) which now also qualify as Battery Metals, are forecast to be in deficit (demand exceeding supply) as early as late 2023, and we should be seeing significant price increases as the reality of looming shortages becomes apparent.

The gold price is also forecast to be on the way up by mid-2023 as the interest rate hikes either taper off or are abandoned altogether. So provided AMI can muddle through till mid-2023, they (and we) should be saved by rising prices, and with Federation close to becoming a reality by then, the future for AMI actually doesn't look too bad.

However, as shareholders we deserve a lot better than having the company just muddle through. After the Dargues disastrous purchase, which should never have gone ahead without shareholder approval, we are entitled to expect a much improved performance from management, and anyone who doesn't meet expectations should be asked to clear their desk and go.