GoochDo you think that Taurus would have got a Board seat if the...

Gooch

Do you think that Taurus would have got a Board seat if the other directors thought they were a front for another party?

I think AMX is an investment or trade gone wrong for Taurus in the changing market environment for goldies. They may now have convinced Kitto to seek a way out for the company by a takeover and both now are probably marketing the company for a takeover.

The problem I see is the deteriorating market for goldies. Hopefully that will change for the better sooner rather than later, perhaps in the second half of 2013. While the POG is still OK/good for low cost producers it is not great for the high cost producers.

With all the taxes and instability in west Africa, why take risks on AMX?

The real issue is how quickly can AMX increase its oxide ore resource and prove up a reserve for its BFS. I suspect they will pretty much exhaust their funds by then, in which case the share price will reflect that and further capital raisings will be very dilutionary for current shareholders.

So the race is on to sell AMX before the cash runs out.

loki