Amx have 1,918,598 ounces in the indicated category. Not 1.3mil anymore.
Total JORC of 3.2million ounces @ 1.7g/t average grade.
Total EV/RES ~$13/oz Indicated EV/RES ~$20/oz
The market is basically saying that AMX's gold resource and land package (which is showing mineralisation basiscally everywhere) is worth around $40million dollars. Which is not a generous valuation anyway you look at it.
Considering one years production of 150k/oz = gross sales of $240million at todays POG. So the gross value of just one years production is 6 times the current resource valuation. Which is absolute rubbish.
Thats called a valuation gap . Value investors like these gaps. That is why Taurus and other AMX bulls are quitely filling there boots down here. Not pushing the action too hard just yet , still some willing sellers out there silly enough to donk off their holdings near 3 year lows. So why not take advantage ?
Why push when you can soak ? but this strategy won't last forever and bulls will push when the time is right. Volume is near non-existant on down days lately , so I think the sellers are few and far between.
Think what happens to the share price when the AMX bulls hold all the shares and the free-float (supply) is non existent ? That is when they will push it higher .
AMX Price at posting:
26.0¢ Sentiment: LT Buy Disclosure: Held
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