The price will get crazy. The sp couldn't get going at 33 cents. Now with 1/3 issued at 26 cents we should be looking at a sp of around 22 cents. I doubt the market will ytake into account the 20 million in the bank and just focus on the fact that AMU do not know how to deliver value to shareholders. I'd like to know who these people are who are giving them "professional advice". This is a drastic step and a bit of panic/frustration by the board. We have learn't that there is no such thing as a "significant" discovery for AMU. The market has shown no interest even in their longville discoveries. If they think they will spend the money on wild cats and hope for a biggy then they haven't been paying attention. The money raised and alloctaed to pay down debt won't make a difference. They must be thinking very long term with this dilution. Hoping for the heady days of 145$ a barrel.
AMU Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held
