I thinks its going to be a long hard road to recovery , as the goldies grind out some gains over the next 6 - 12 months. But the overall trend should start heading up.
But , I think the heavily oversold plays will bounce the fastest here if/when capital markets start throwing a bit more cash around.
Would expect that explorers without amx's fortunate position of $$40million in the bank will be putting cash burn control measures in place, so i'm moving out of more speculative plays that need to raise cash soon . I think they're still going to be doing it tough.
Lots of catching up to do and we're going to have to take the stairs for now . The elevator will be broken till QE3 gets a green light imo.
Ps. I still have a sense that more corporate activity will emerge in AMX before the years end also. Round one is complete , round two just around the corner imo.
AMX Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held
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