Taurus have always been into AMX for the takeover play imo. As many punters here are for sure. Watch Taurus average very closely.
Taurus have installed a man on the board for this very reason and now have a large say in what will happen and what bids will see the light of day. They are accumulating very skillfully, soaking up the volume on negative days (and other larger players i'm sure). Not pushing the action to hard higher , as we are clearly in a bear market (why push ?). Still ~40% of AMX held by retail investors , plenty to still be shaken out perhaps ? or have will weeded out the weak holders with a triple bottom ? Time will tell.
But certain news may drop in due coarse than may change the nature of their buying strategy. A little buying pressure will go along way with an undervalued stock like AMX.
I'd rather see AMX go to production personally. Start small(150k oz per year) , attack the highgrade component that will only need a 1-2 million tpa plant, build up some cash then expand and explore.
Perhaps a JV like Independence group have done with Anglo would be another good option ...
AMX Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held
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