I hope existimg holders get a good outcome from this.They say...

I hope existimg holders get a good outcome from this.

They say timing is everything and I bought back into AAM the day JW resigned, before it was announced. Well I spoke to AL who among other things pointed me to this forum.. My only benefit from getting back into AAM.

For a time I accepted that everyone was working hard and no news is good news.

However I finally took a 66% loss and sold out.

My reason was that I felt the use of 200 ton excavators to mine gold ore was likely to result in massive dilution, and there was a 50% chance that Alpha would get similar results to Beta. Achieving 1.8g/ton rather than 4 g/ton is easily explained if mining techniques are inappropriate.

With WATPAC holding all the aces, there was no way the AAM board could challenge WATPAC about the mining methods and potential ore dilution or wastage, except by going into administration. Then the administrator could determine what went wrong with Alpha and act accordingly. WATPAC would have no power over an administrator, but administration is always expensive for a company, so I decided to sell and take my loss.

So was the problem at Alpha optimistic grade assumptions or ore dilution by mining methods. Maybe a bit of both and anyway water under the bridge now,

Has Alpha come up trumps due to careful controlled mining or have the projections not been met. If the board knows it has not told us yet.