Why AMX share prices are falling non stop ?
Looking back
By Nov 2011 : 3.1Moz Au JORC Resource at Konkera
Now, Dec 2012 : Konkera 3.1Moz Resource
Cash burn :
- Quarter 31 December 2011 : $ 9.5 millions
- Quarter 31 March 2012 : $ 7.3 millions
- Quarter 30 June 2012 : $ 13.4 millions
- Quarter 30 September 2012 : $ 7 millions
Total cash burn for recent 4 quarters : $ 37.2 millions
The outcome : still 3.1Moz Resource, no change !
Estimated cash outflows for next (current) quarter : $8.7 millions
With this cash burn rate to continue, AMX will run out of cash soon !
The above expense is just for Prefeasibility Studies. Next year, how much for DFS ? and how much for development cost ?
What are going on ? Is it a norm for junior gold explorers to burn so much cash with little significant result like that ?
When the resource upgrade will be ?
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