Hi loki"So he ended up with around $2.8m rather than about $21m...

Hi loki

"So he ended up with around $2.8m rather than about $21m (minus taxes) had he sold out at say $3.00 "

Correct. And yes, its sad how much he's lost. And don't forget to take out broker commission also. So probably much less than $2.8mill in the end , then tax.

There is much more to the story i'm sure . And many reasons why he felt compelled to sell , but thats for others who know the facts to confirm , not me.

All I know is that he's finished selling (evidenced by the rise in sp )and that it was a paniced/forced sell by the sounds of it, nothing to do with the resource or prospectivity , but for personal reasons. Perhaps he will buy back when he settles down.

"That requires a major mental adjustment in terms of future expectations."

Not really.

The gold is still there (and more to come) , and if Kitto's done the work , you know its been done right.

Sure, I never expected to be able to buy AMX at under 50c again either , let alone under 30c , but that doesn't mean I'm concerned by it....quite the opposite actually. I've been through all this before and gained a certain perspective over time. Don't listen to the market, its rarely on the money.

Anything can , and will happen in this crazy world, and the stock market is the craziest part of it all imo !

The only cure for craziness is patience and constant research and personal due diligence. KNOW VALUE at all costs..

Live your investing life by the below and you'll do alright:

" In the short run, the market is like a voting machine--tallying up which companies are popular and unpopular. But in the long run, the market is like a weighing machine--assessing the substance of a company. The message is clear: What matters in the long run is a company's actual underlying business performance and not the investing public's fickle opinion about its prospects in the short run " - The father of value investing, Benjamin Graham

I've added 15% to my holdings under 30c this week and would've bought more if I had the clobber... but you know ..xmas and all that....

My future expectation is that these will prove to be prudent purchases, along with anything i've bought under $1 in due course.

But Loki, you're right - the seller may prove to be the smart one in the end. No one can accurately predict the future of any company.

Or, he may end up like many investors that play this game and end up selling at or near the bottom, compounding their folley after enduring month apon month of anxiety while it drops....then the stock takes off again.....compounding his folley once again being left behind...these individuals will rarely ever enter the stock market again and eventually go bald....;)


Even the most successful company's will usually make several major tops and bottoms in their life cycle, amx is no different. We are now at or near a major bottom after seeing a major peak, nothing more.

This is still a very young company finding its feet, but carrying a huge weight of expectation on its shoulders after stunning early success.

The kind of momentum AMX had in the early resource definition stages is very hard to maintain for any company. And the resultant backlash of disappointment is equally as strong when the momentum wanes. The share price gets hammered, not because the company is going backwards , but because of the markets inability to manage its own expectations.


Have a good weekend.