Mir, Angyungjebi and Kenpitt do make a fair point. AUT has been getting great flow rates since Feb but the quarterly only records $60k in revenue and I assume this is bank interest.
I like both companies but it is a worry to see AUT inflate it's perceived acreage position by quoting post farm out equity levels when the farm out of Sugarloaf is pretty much complete. Also when you take land owner royalty into account the actual post farm out level of equity isn't 10% it is actually 7.5% which is not really meaningful. This is why I dint bother with ADI or EKA. AUT is fortunate to have equity in the other two AMI's.
Happy to hear your thoughts and all the best
AZZ Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
