"I was happy to pay 4x the price a year ago. Fundamentals haven't changed."
I worry about a poster's understanding of "funnymentals" when I read such statements.
Actually market fundamentals have changed a lot over the last year, and even more so over the last 21 months.
I hope you get your money back. Obviously if you have bought recently then those parcels are more likely to eventually be in profit.
Having a 75% capital loss is not a good thing and there is no certainty about the share price. Think about where the share price might be if they were to dilute shareholder by 50%+ because of adverse market conditions, just to fund further exploration.
Hopefully a larger company will come along soonish and offer a reasonable price for this company so people can exit with some skin, of they find a heap more oxide ore to improve the economics of the project. Remember - AMX still does not have a quantified ore reserve - it is just a resource that needs more exploration expenditure before they can do feasibility studies.
Money seems to be getting eaten up more quickly these days in west Africa - perhaps they have to do a lot of bribing to move things along and keep the locals happy.
loki
AMX Price at posting:
38.0¢ Sentiment: Hold Disclosure: Not Held
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