Guess so. May explain the delay. Not to say there are great prospects for many more ounces to be discovered.
When you look a the LT chart, esp the recent decline to cash backing it would appear the board does not have the support of Australian shareholders anyway, so maybe they are simply throwing in the towel and getting their final cheques cut.
Chicken and egg scenario.... I see boards selling out their shareholders EVERYWHERE (Takeovers, dilutions, missing deadlines and targets, stalling, downright lies and suing anyone critical of aforementioned) This feedback loop permeated the entire market in Australia which turns LT investors into nervous short term investor/traders on other stocks which then also see SP declines and more boards selling out their shareholders.
Confidence in the Australian public markets is in a state of ruin. Maybe that is a subject for the association or public company directors to discuss.
AMX Price at posting:
7.5¢ Sentiment: None Disclosure: Held
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