I have thought that maybe Taurus, as the largest shareholder (and rep on AMX board), as well as Acorn may agitate for a cap raising very soon. Yes the SP is at lows but it would:
a) Put AMX in a much stronger $$$ position now before the unknown of US fiscal cliff impact on financial markets early 2013. Better to raise now whilst they arguably do not have to, rather than ask for $$$ Q1 or Q2 next year when they really need it (and SP is driven down to accomodate CR). (Better to raise $25m odd now at 25c rather than next year at sub 20c). Prudent capital management initiative is the spin that would be used.
b) Taurus and Acorn would be happy as their average entry price world dramatically improve in an instant which would placate their own shareholders. This is mainly why I think a CR may still be on the cards.
Nice run this morning. I am out again. Back into GRY. Will keep watching. AMX generally has a breather after the first 1.5hrs of trade and retraces. Will probably retrace and consolidate sub 30c for a few days before going through 30c barrier. But then again this last 2 weeks has been uncharted territory for AMX.
AMX Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)