We're now priced less than MET, who haven't even drawn up an initial JORC resource yet (which will be nowhere near AMX's inventory). Therefore I conclude AMX is not being traded in the traditional fair-value sense. It has to be canny punters short selling it down. If so, sooner or later it has to reverse, when other punters reconsider just what the company is sitting on. You can't tell me a stock can be valued at a tenth of what it was a year or two ago, when, as far as we know, all is going to plan (apart from painfully slow lab results) and with $45M in the bank to expand an inventory of over 3M oz. Roll on Northern Hemisphere autumn!
AMX Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
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