Not a good day for many gold explorers.Perhaps AMX should go...

Not a good day for many gold explorers.

Perhaps AMX should go slow on their exploration program to conserve cash until this rocky period is over. It is unlikely they will get cash for a mine in the current market environment and if they run low on cash the takeover offer will be very small.

This is my view on all pure explorers, not just AMX.

Some of the better producers got a good bump up in their share prices today, but they are still well off their highs. If the sharemarket rout continues for a few weeks overseas then gold and goldies will get trashed again, IMO - but others see QE3/LTRO etc just around the corner to rescue everybody once again. Note that China and India are not doing so well, and these are the main gold buyers.

loki (explorers, even the best of them, are only a hold in my sentiment).