Next time You have hit the nail on the head, they need to get some results in before they run out of money or have to do a dilutory fund raising. Management not keeping the market informed does not help. They have about 30mill in the bank about three quarters of a years costs. With an EV of 100mill fund raising can be difficult as a mine would cost 300mill, 100mill from equity. GRY is also in Burkino, is a year ahead of AMX, production targeted 2014. They also have about 30 mill cash but also investment in PIR worth about 30 mill. Their grades are 2.2g/tonne and a market cap of 282mill which is still dilution but can occur. Funding for mines is getting picky, so you need the grade or the metallurgy. I sold our because management said they would clear the backlog by Oct. We have heard the reasons why from some good posters here, but hey I wanted to hear it from the management. Good luck, this maybe a tough one to get past the post.
AMX Price at posting:
49.5¢ Sentiment: Hold Disclosure: Not Held
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