re: News: Ampella Mining answers some key que...
It's worth checking the West African goldie PRU's quarterly, just released, which beat guidance and was a new record, to remove any lingering concerns about AMX imo.
"Record gold production of 52,670 oz during the June 2012 Quarter"
"Cash costs reduced to US$676/oz, 7% lower than March Quarter cash costs and 2% lower than cost guidance"
"Head grade (1.6 g/t) and recovery (87.4%) ahead of targets."
Note in particular the grade and the recovery of 87.4%.
When I read this I see absolutely NO ISSUE with AMX. It's about time the market woke up in my opinion. When it does I expect to see a PRU like recovery in the AMX share price.
For those unaware - PRU was smashed from $1.50 to low 20s in the 2008 GFC, was three years away from gold production, similar to AMX now, and only had about $8 million in cash unlike AMX with over $40 million. PRU successfully got into gold production with minimal shareholder dilution and has since traded as high as more than $4.00.
AMX Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)