A top shelf takeover bid is typically at 40-50% premium. In this market for small cap resources and gold companies typically much less than 40%.
40% on latest close would be a bid @52.5-56.5cc. However, I don't think AMX will attract such a strong bid because they have priced themselves out of the market by asking too much compared to the prevailing market conditions and prices. They have in effect told bidders not to bother bidding. It is delusion, similar to a home owner expecting buyers to pay boom times prices for their home after property prices have crashed. It just turns buyers off and there is no interest and therefore no sale.
AMX sp will recover if and when AMX deliver on - significantly expanded resource - significantly improved categorization of resource - robust and credible PFS, e.g. addressing metallurgical issues with some parts of orebody
I am hopeful there is good news coming but it has been a long wait while a lot of cash has been spent and investor disappointment in the poor comms flow and delays is reflected in current low sp.
AMX Price at posting:
37.5¢ Sentiment: None Disclosure: Held
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