AAM have just increased their cash position by 1.1 million, thus taking cash at hand to say 4 million.
the entire 10 million that is required, as per coy estimates, has not been raised as yet.
so why raise this proportionally low amount now and not the whole amount?
I speculate.
Perhaps the company is looking to build a stronger cash position through whatever short term means it could prior to the 'gold investors forum' to be held in Sydney this week (14 May).
I am almost certain that John Williams will be at the forum (he said he was going to be in Sydney this week and has a booth at hte forum).
So to add 'punch' to the company presence at the forum he is going to:
A) restate the coys reserves and resources
B) state the no debt/ no hedge cash position
c) state the ownership of a CIP mill
D) Announce the schedule to mining together with costs
Perhaps also he will announce a financier or the dreaded SPP as many have said they don't like.
Is this too much to ask for???????
I would be:
A) Delighted with such decisive action
B) Surprised if the market didn't react positively despite the recent bungled cap raising
Thoughts guys?
GC
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- issues aside what is the upshot of the raising
AAM have just increased their cash position by 1.1 million, thus...
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