Jitney liquidates their position today.Hard to believe that this news release came out only 50 days ago. If it was trading at .45x nav and one of the cheapest then, it is trading at .25 times nav now. You thought it was cheap then, man, it is really cheap now.
Gold Mineralization at AM Gold's Yukon Deposit Now Traced Along Strike Four Times That of Current Resource, Attracting Noteworthy Endorsements
11/30/2010 12:04:49 PM - BSR
Nov 30, 2010 (ACCESSWIRE via COMTEX News Network) --
Mining MarketWatch Journal has published a review of AM Gold Inc. (TSX VENTURE: AMG) (Pink Sheets: ACERF) offering insight and opportunity afforded investors as AM Gold Inc. possesses large resource growth potential and is encountering quality results at its Red Mountain Yukon gold project. AM Gold Inc. has received attention of late from several noteworthy sources including James West (editor of the Midas Letter) and Byron Capital Markets. With ~47M shares outstanding (~$32M market cap) and trading under
.75 cents, shares of AMG.V now offer one of the best vehicles for investors seeking serious intrinsic value and strong growth prospects on two fronts. AM Gold has a current resource totaling 1,208,000 oz Gold and 385 Million lbs Copper in all categories from two project.
The full Mining Journal review may be found at https://miningmarketwatch.net/amg.htm online.
November 2010 Byron Capital Markets, a division of Byron Securities Limited, initiated coverage on AM Gold Inc. with a Buy rating and a target price of CDN$1.30 based on a 1x NAV multiple. Byron Securities believes a ~ 120% upside share price revaluation is in order to reflect the intrinsic value of the company. Based on Byron Securities' financial model, AMG's stock price is trading at 0.45x NAV, a significant discount to other junior gold mining companies.