no sale ...for now

Announcment today of no acceptable bids.

I feel that the corporate interest test AMX has conducted was poorly timed = wrong time in the valuation cycle + wrong market conditions + POG still in a corrective state + no significant news flow during the period (other than wardaradoo hits) .....

I think that a bid will be far more likely once the PFS has been released and more gold added from new discoveries.

Here's what I see driving the stock higher from here :

1. POG to move back over 1700 and clearly back into uptrend

2. Good PFS numbers (this shouldn't be a problem )

3. New discoveries adding oxide style ounces to push sulphide ores back into the mining schedule + offer up plenty of higher grade blending material.

4. Upgrade in resource catergories , as well as overall ounces to 4mil/oz +

5. Improvement in capital markets- giving confidence in project funding down the track . (this shouldn't be a problem also)


Should see a good bounce soon , given that the major seller has been exhausted (from what i've heard)