A lot to absorb in that update, that original PFS flowsheet is...

A lot to absorb in that update, that original PFS flowsheet is an absolute joke, and that combined with my own reservations about the Co extraction that ended up being another cluster is telling me that AML have essentially wasted our time and money for the last 3 years or so. The Cobalt stuff up and lack of retained metallurgical drill core set aside for the new testwork means that these guys are even further away from production now than when I entered. The new proposed simplified flowsheet is welcome news except that the market for a bulk sulphide concentrate is a lot smaller and more specialized than producing separate Cu Pb and Zn concentrates, so AML can expect lower prices and higher toll treatment charges for this bulk concentrate that will affect the economics of the project in the future.

At least sanity prevails with them seeking JV partners for the Beauchamps drilling, the ground is interesting but the company has other higher priority issues. The recent letter to shareholders pretty much sums it up.

I'm reducing my exposure to a small holding to retain the possible upside of a Beauchamps discovery as my money will be better used doing other things for the next 2-3 years until things become clearer, I'm almost certain that I'll be able to re-enter AML cheaper at a future date.