you wrote "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 !"
The answer to this is simple , it was the lab assay leadtimes of up to 120days. We've only recently seen infill results from earlier this year coming in lately.
So the drilling has been done and paid for , but we haven't seen the benefit just yet. Resource upgrade will come in Q12013 along with PFS i reckon (which will pleasantly surprise imo)
Another point being, that much of the money has been spent of regional exploration drilling , which is not resource expansion (yet)
AMX Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)