Here's how I see it (btw - I think AMX is a quality company and...

Here's how I see it (btw - I think AMX is a quality company and Paul Kitto an excellent CEO!)

Since the recent high approx 3 months ago, AMX has been steadily sold down - despite heaps of arguments saying that "it shouldn't be at this level"

Throughout this selling (and it HAS been some serious selling) there have been numerous points where posters have said, "ok, this is about right - it should turn around" then it goes a bit lower and they say "ok ok - now THIS is the right level" and yep, you guessed it, it keeps going lower and they say "holy hell balls - this has GOT to be the support"... you know the story.

Looking at the chart, UNLESS some excellent news comes through (and even then, it may only offer long term sufferers a chance to get out) this is going lower in the short term. Any arguments suggesting that it won't hit 0.24 can be challenged with all the wrong arguments that it wouldn't hit,

0.58 (hit)
0.52 (hit)
0.43 (hit)
and so on...

We're now at 0.27

Why? Because a lot of people are looking at the chart thinking "well - I may as well just sit right here and wait till it drops another cent"

Which is what they've been doing since 0.65 and they've been 100% right so far!

Is anyone willing to bet it WON'T hit 0.24 in the near future?

BUT! that's just sentiment (which IS a powerful force)

Is there a more fundamental reason why it's being sold?
Are there serious, quantitative arguments to suggest that it's not worth buying AMX?

I'm talking about the gold market, the ability to prove a bigger resource, ability to attract funds without dilution, ability to get institutional support, etc etc etc...

I ask this because there are a lot of gold explorers in West Africa (GRY, GMR, AZM...) and, while they have all been hit to some degree, NONE have been hit as hard as AMX!

Or is it ALL just sentiment?