Well, the resource upgrade and increase in grade is all good. Again, not to many projects out there with this type of grade. some are better and some are not. when you look at the majors where their grade is well this is what the majors then need to increase their avg grade.
So now we wait, i suppose AMX will not release any news until they have the complete picture. I suspect that if they have not come up with anything we are going to have to wait patiently. Last years infill drilling was what it was infill. no step out or anything else. The company was clear on that.
The question at hand will they be able to find the 300-400k oxide this year? I'm thinking that they are going to need to do step out drilling at konkera to get the oxide. Maybe one of their other targets will hit but at this stage i of the opinion that they are not their yet.
Is this bad? no, they just have to keep drilling. they have a massive land package and those that are frustrated should just pack it in. It could take a while and again may not happen this season. Just being realistic.
Im currently looking at Lydian international as one of my top pics now along with kaminak gold. they keep hitting and will probally be in the lead for take overs in the next 12-18 months. I don't think someone is going to come along and buy amx at this state, that' s just a gut and no reasons behind it.
We could see perseus taken out as well, Keegan resources and even PIR. By the way i just bought some Kilo gold mines. They have a property in the congo that sprott seems to like. I'm also looking at picking up Belo Sun and Pretium as these are some very nice looking projects as well.
Amx is slow, no question about that. nothing they have found, but again last year was infill, this year is oxide. will they find? they will get there.
as for $$. there will be no issue with them getting money. so if we go into next year without anything then i suspect they will have to raise $ in 2014 at some point.
The good news is that i suspect the gold price is going to start moving again. I did call it here that the downs where coming, and now im calling the ups will be on its way. now if we get back to 1900$ gold im sure that will be good for AMX and if we get to sinclaris $3500 then amx will sure do well.
Look out for another presentation update next week. but no results
AMX Price at posting:
27.0¢ Sentiment: None Disclosure: Held
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