KMT
Quite correct; Liam is AAM's investor relations man and cannot discuss more than has been publically announced. Much the same with the directors. You can tell them what you think and suggest they tell us what is happening. That's it.
If they are mining supergene now, I dont see they are required to tell us. The quarterly forecast monthly production of 2100oz, 2610oz, 3570oz. So if they are tracking close to these figures then why would they need to make any announcement. IMO they have informed the market of where they expect to be and if nothing has changed then track record suggests they wont tell us. Reasonably they would let the market know how they are going, but that does not mean they will.
However, if they have a mining/plant/grade problem and assess they cannot come close to the quarterly production forecasts, then they are required to make an announcement IMO. (At the time they realise this).
BWJ
Looks like Bill Hobba got the refurbished plant commissioned and seems to have come up with cash when AAM needed it. Agree his contribution is effective, and maybe not appreciated. Using 2ndhand plant means AAM does not have hedged gold sales and interest to pay on Project finance. Things that easily kill mining companies
3 new board members appointed Aug 2010, so we have a new board effectively. AL joined AAM in Apr 2010 as Finance Officer; it looks like he has had to work hard to get AAM through the last few months, with SPP priced above the SP. He got paid $45K for 3 months work last year.. Not high for WA where salaries are double Melboune rates.
The SPP was announced to raise a buffer to ramp up production. AAM got 700K rather than $10M and AL has negotiated AAM's survival, so I guess he has earnt his wages. To payout AAM's creditors, the board has opted to produce gold, rather than dilute existing shareholders by a placement (which would have to be done at a very low price).
Last quarter was cashflow neutral with 1452 oz/month produced. Sep production was 2100, and forecast to increase. So it looks like AAM is OK
It certainly looks like there have been no announcements to support the share price, and also none to show whether the 20c options are fairly priced or not.
Anyway DYOR
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