OTCPK:AUMTF - Post by User
Comment by
Red_Deeron Dec 03, 2008 3:11pm
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Post# 15625699
RE: Pretty decent hey Pops? LOL
RE: Pretty decent hey Pops? LOLCINDY__Now don't have one of your orgasmic esperiences quite just yet.
The financials you posted were for AMI prior to the ABM amalgamation__thus don't take into account some key financials like that nasty 9 million dollar demand bank loan, the 11 million dollar GoodWill on the balance sheet, and the money needed to be set aside for reclamation expenses.
And the overall consideration going forward is that there are ONLY several more years of gravel left in the Susan Lake pit__and then where is the revenue/cash flow going to come from?
And before you come out and say ABM will simply develop replacement gravel reserves somewhere else__just recall that they have NOT been able to do so in the past two years that they have been in business__so why should they do any better going forward?
ALL ABM has done is burn through millions of shareholders cash doing large scale exploration work and have so far come up totally skunked with NOTHING even remotely close to going into commercial production.
Thus Mr. Market appropriately is continuing to give a big yawn and shows NO response to the released financials__which is going to be a huge headache for ABM management since they likely need to do some hefty private placements to raise more cash to burn off on their various prospects.
Mr. Market doesn't give a hoot that ABM insiders took shares at 60 cents as part of the AMI deal!