New Research Report on the Ampella web site by D J Carmichael
AMX fully funded for aggressive exploration for 12 months or more
Focus on shallow oxide
Expect resource upgrades.
Net result of the capital raising sees valuation on a DCF basis drop from $2.85 to $2.76
" Recommendation We maintain our Buy recommendation on AMX, especially at these levels and change our valuation accordingly. We believe AMX will continue to deliver strong exploration performance from their infill and regional exploration programs and are confident that any increase in ounces from areas that have a better metallurgical performance than Konkera Main and East, will preferentially displace these ore sources, and hence be reflected in the valuation over time."
AMX Price at posting:
$1.29 Sentiment: Buy Disclosure: Held
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