For those willing to accept some risk, AUM is an interesting proposition with its process to treat certain types of copper oxide ore. I know several others tipped it last year, but the next few months could be interesting for this (very) small cap stock.
The last couple of months seen it trade in the low to mid 3's, generally on low volume. I gather there is a ex-director gradually selling into the mkt, creating some share overhang, but I think this effect should dissipate in the next month or so.
The key to AUM short-term may whether they can achieve a smooth ramp up to the full scale operation (about 10,000 t in first year) of copper sulphate pentahydrate at Mt Norma by say March-April. This will provide solid cash flow and probably open doors for treating other similar oxide ore in the Cloncurry region.
The other short-term drivers will be (i) drilling for primary copper at Flamingo and (ii) placing the shortfall of the existing 4c rights issue. I understand that there is a reasonable chance this might be achieved in the next week or two, but we shall have to wait and see.
angus
I hold AUM and AUMOA
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australian mining investments limited
aust. mining invest. - possible 6 month buy?
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