one of the cheapest gold miners on the asx

• AAM is a junior gold explorer moving to producer
• # of shares 160m
• Close price today – 21.5c
• Current market cap around $34.4m
• Brightstar Gold Project – JORC Resource 1.7m ounces (150k reserves)
• Resource spot value approximately - $1,989,000,000 (NEARLY $2 BILLION DOLLARS) – Calculated with Gold at AUD$1170
• Resource valued at only $20p/oz

***According to my Gold Nerds spreadsheet this puts AAM in the top 30 cheapest gold stocks measured by Market Cap/Resource, only 3 of those 30 are producing (2 are producing under 15kozpa and the other is AXM (LOL)), AAM is one of the most undervalued gold companies on the ASX.***

• Managing Director with the company since 2002 (when formed)
• Managing Director has over 20 years experience as a geologist in Australia/overseas
• Managing Director has 11% stake (major shareholder)
• Top 20 Shareholders hold 43% of shares
• Minimal debt confined to specific equipment financing
• Hedge free, fully leveraged to increases in gold price (which you’re probably expecting if looking into gold companies)
• 100% owned gold plant (300Ktpa) nearly complete
Production commencing December 2009
• Expected annual output of 30,000oz pa once producing
• Growth - Production output and resource increase likely
• Expected cash cost of $600p/oz (TCO - $633, courtesy Gold Nerds)
• Deposits/Projects located in Australia, so is low risk
Recent sale of non core tenement & additional placement of 10.4m shares @ 19c to fund A1 until


IN SHORT: EXPERIENCED management, HUGE resource, severely UNDERVALUED, flying UNDER THE RADAR and soon to start PRODUCTION. You would be crazy to not have AAM as a significant part of your portfolio.

It's only a matter of time until AAM blows through the 24c barrier. There is a large cup and handle pattern forming on the chart and with gold moving up in both USD (NEW HIGHS!!) and AUD (to a smaller extent) its likely only to be a matter of days until AAM pushes on...Don't be late to the AAM party.