significant resource upgrade, page-41

gooch

"Those that do not understand ann's like today's - do us a favour and don't buy back in....just go away, go buy some Telstra shares or something... "

well okay i take your favour not to buy this at the moment...reason as stated below...

1. they did not find oxides which was the main focus last year( I guess at konkera main )

that was significantly important for the economics of the project...(check pauls answers to the query raised by analyst in last year or so)

2. they have plan to raise equity late this year with the possibility of even bringing it in advance...so this inevitable equity raising has to happen around 20 cents level if sp stays in early 30s..so neverthless the results are good or bad the best time to buy this stock after the equity raising announcements imo...

3. they have been claiming of upgrading the resource to 4m easily but they couldnt...

4. ampella had great expectations from current drilling results to show its potential to analyst and market but unfortunately the upgrades were disappointing yet again...

5. its resources are very deep and PFS most probably bring very low reserve numbers...imagine with high grade gryphon could only convert 1m reserve out of 4.9m resource...if you consider gry resource grade and its cash cost in pfs..ampella's cash cost could go as high as >$1000...

i still think this company has great potential with its ground prospects, difficulties to find and being in GOLD commodity but imo the best time to buy this stock still has to come....but anyway believer like gooch and other this will bring massive value one day aropund $2 per share..i no doubt believe it ..i hope i will be with gooch at that time but just hoping for 12 to 15 cents at the moment...

by the way some of you got pissed of when i said gryphon will go under 40 cents few month back....its trading at 35 cents today...