I have done a little bit of homework and investigation into AMG tenements. Amazing, two tenements owned by AMG are Mt Freda and Gilded Rose, two gold mines about 20km apart in Cloncurry were previously owned by Diversified Mineral Resources around 1987, These were the two main properties owned by Diversified. Their market cap was $265m. The gold price when Diversified owned them was around $250-$260 per ounce. Now the gold price is $2000 per ounce and Ausmex market cap is $60m. WTF? If you then add in all the other great tenements that Ausmex have such as Trump, Golden Mile, Brown Snake, Evening Star, Canteen and more. How undervalued is this. This is not a big sell just stating a fact that I didn't realise. I know they naysaying negs will have a big say, but hey this is the act. DYOI.
AMG Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
