Oh we'll, first time moderated in 12 years of posting. Thepick...

Oh we'll, first time moderated in 12 years of posting.

Thepick raised some good points on the other thread:

Back to some other matters:

Granted there were delays with assay returns over the last year and a half, but all Burkina Faso explorers had to deal with this handicap. However, whatever way you spin it, a 6% resource upgrade after 15 months of infill drilling is not acceptable. And it is not significant. We are talking about an increase of ~180,000 ozs only.

Another ASX listed gold explorer/developer managed to upgrade their gold resource by almost 150% including a Reserve in a very similar timeframe. That is what I call a significant upgrade.
As a former longer term holder and follower of AMX I was lead to believe (through my interpretations) of announcements that the AMX upgrade would actually be a lot larger.

AMX had a good run up today and is back to around the SP level i exited last week. My main beef and caution with AMX going forward is that if it took 15 months and many millions of $$$ to infill a KNOWN resource area to get an extra 180k oz, how long and how many $$$ will it take to EXPLORE for, and LOCATE, then INFILL and PROVE UP another target and get that extra 300k to 400k oxide ozs as stated by the company to enable a PFS to be completed.

Then cash will also be needed to progress infill and reserve definition drilling for a BFS. Much more money will be needed relatively soon and the extent of dilution will depend on the state of sentiment in gold markets.
For current shareholders sake, I hope this little SP run up is not the run up we had to have prior to cap raising. Funnier things have happened.