new results in agm presentation, page-6

The reason there has been no share price movement so far is because the company has now outlined in the AGM presentation that its cash may not last through to completion of a BFS. Let alone project financing. Stating a program of 'judicious use of funds'' : Reviewing exploration programs, reviewing feasibility timelines, reviewing corporate overheads and staffing requirements..... make of this what you will.

Taurus still adding is an intriguing positive aspect for AMX but having owned and followed AMX over the last 18 months (not currently holding) I have interpreted some not- so positive elements creeping in to their reporting. For example:

It was a very judicious use of a starting date on the peer comparison share price performance slide in the presentation. From beginning of Jan 2013 you would be forgiven for thinking 'wow' AMX has held up well compared to GRY PVM AZM and PIR. Whereas if you take a starting date of exactly one year ago 31May 2012 you would see that AMX has under performed all except for AZM which is about even.

In late March this year their Mines and Money presentation was still identifying cash in the bank of $30.1m (as of 31 Dec2012). I was critical at the tie because why not be up front and state that current cash in bank was approx $25m which it was (as per the March Quarterly released a few weeks later).

The other thing I have noticed is late reporting of drilling results when they have advised the market they were pending or imminent and the non-reporting of dud results. These slackening standards of drilling results is a new phenomenon for the company which does not sit we'll for me based on very high standards over previous years.

Maybe I am reading too much into things but having been a studious reader of all AMX announcements, reports and research papers for a long time the recent changes are subtle but in a way quite stark.

The SP should see some natural improvement with gold price and overall gold sector sentiment recovery.