however, just because the current company has not made a profit...

however, just because the current company has not made a profit so far does not mean it will not in the future... but even more important could another Co. do it better? maybe? if so it is cheap.

I think everyone is forgeting the statment to ASX mentioned:
-expected profit for this qtr of ATLEAST $2m;
-expectation that they will be profitable going forward; with every qtr ($2m x 4qrt = $8m)
-plus they have support of the creditors;
- current market cap $20M net assets positive.
- many long term non-holders hanging around checking the announcements everyday ready to pounce if the data is profitable.


Whilst Management should grace statements to shareholders with the same respect to statements made to ASX... you can not under estimate how companies act more conservative with ASX then Shareholders... or in AAM's case not as bullish with ASX?
Seriously 10c is to cheap for even the above to come true... therefore 'IF' AAM exceeds the above it should be interesting.

Everything else aside net profit is king (even more than grade) and what a company then does with that profit second.

I have somewhat more faith in the new management to make more decisions that will make financial sense rather than most geologists who would like to see what is under every rock rather than consider if it is feasible to look under every rock.

A bit like a Doctor trying to run a BIO MED they cannot help research and test everything and ponding the universe. When what the company needed is a CFO or FC to question the financial rational of the decisions.


On another topic:
who cares what the speculator thinks, how many have they got wrong over the last 12months? Speculator out Ceasar report in, neither of them would have followed the company as long as us nor would know as much as us.

everything at the moment is only 'noise' as Sorros would say... with the qtrly being one of the real things to focus on in the short term.

Unfortunatley there are a lot of shareholders who are in the RED which is causing more emotions to run rather than logical analysis...

Seriously i could not be the only one on the thread here in a net Black position? ... if thats the case i think the long term people who continue to watch the stock and are not currently invested may have a chance to take advantage of the emotions and pick up a few cheap ones.