Is Centamin buying straw hats in winter and obtaining control of AMX's multi million ounces of gold at a time when market sentiment for gold juniors is worse imo than during the 2008 GFC crash?
The gold price was smashed at the start of April, 2013.
Here are AMX's June, September and December quarterly "Payments for exploration and evaluation."
June 2013 quarter $3.924 million
September 2013 quarter $6.141 million
December 2013 quarter - $2 million estimated cash outflow from the September quarterly
(Information obtained from relevant quarterlies.)
This is an "exploration and evaluation" spend of $12 million.
Another course of action worth considering was for AMX to dramatically cut back exploration and all other spending, conserve cash and wait until the gold price and market sentiment towards junior gold companies improved.
buying straw hats in winter ...
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