I think we were around 27c earlier this week when I posted:'Must...

I think we were around 27c earlier this week when I posted:

'Must concede that AMX may go lower. Chart looks horrible. Sentiment for gold explorers and West Africa poor. Do not know were the bottom is. But... must surely be thereabouts. Sanity should prevail and I think buyers will start to step up tomorrow.'

Again we may get a pull back, but to me even though I am no chartist, it would seem that we did hit bottom at 27c. The Relative Strength Index is turning upwards and indicates AMX is still substantially oversold.

I thought we may have had a change to substantial shareholder notice by now after the big 5.5m share volume day on 30 Nov (due to the MSCI Golbal Small Cap Indice change). But with another 4m shares changing hands this Wed we may receive a notice early next week to reveal who has been increasing/decreasing holdings.

AMX is still dirt cheap relative to peers IMO on any measure. Market cap still only at $79m.
Cash approx $30m.
Cash is king again and many junior explorers/developers in Australia, let alone West Africa would kill for that bank balance. The on-site prep lab should ensure tailored and efficient exploration and drilling results and quick assay turn-around times which together will make each dollar go further.

Aircore results around Wadaradoo prospects pending
Reverse Circulation results from Torkera pending
3400m scout drilling of Konkera South pending
Aircore results from the Tiopolo permit pending

The lowest AMX intra-day low for 3 years occured in July 2012 at 35c and by end of Sept 2012 AMX hit 79c. Again I am no chartist but it would seem to me that once AMX gets through 39 or 40 cents again then the SP should gallop higher hard.

It is never too late to get some.