europeAME is being mentioned in analysts reports based on their new relationship with KGHM who are widely covered by the large financial institutions
DeutcheBank report (Sept 27, 2010)
they value KGHM 51% share of ajax at $249 million
Goldman Sachs report (Sep 29, 2010)
they value KGHM 51% share of ajax at $327 million
that would put the value of AME 49% share in a range of $239-$314 million
or 1.19-1.57 per share
but KGHM still has an option to buy another 29% for $35 million max
if that happens then AMEs remaining 20% would be worth $133-$163 mill
or .66-.81 per share
from these reports I gathered that analysts where watching closely to see how successful KGHM will be at getting ajax into production and finding additional projects in the americas, the comment was made that KGHM lacks experience outside poland, which explains why KGHM wants to work with a mining group who are familiiar with mining in the americas (Excell, Pooler, Mckeever)
KGHM has chosen the AME team to be their western partners, interesting times ahead for AME if the JV moves quickly to add another 150,000 tons of copper production to the 50,000 tons they currently plan for ajax
lots of world class experience in the americas among the AME mining team
James D. Excell President & CEO
Mr. Excell is a Metallurgical Engineer with extensive senior executive, mine management and process engineering experience. His career includes more than three decades with BHP Billiton in Canada and internationally, serving as President and COO of BHP Billiton Diamonds Inc. from 1999 to 2003, and as its Chairman to June 2005. He has been responsible for overseeing the management and development some of the world's premier mining projects, including the EKATI diamond mine in the Northwest Territories, where he led the construction, commissioning and subsequent operation of the $700 million development. Jim also managed copper operations in British Columbia, as well as metallurgical and thermal coal mines in Australia and the U.S. In addition to his outstanding industry experience, he is recognized for fostering goodwill relations with government and aboriginal groups.
Andrew Pooler Executive Vice President and Chief Operating Officer
Mr. Pooler has more than 20 years of experience as a mining engineer and operations executive working in North, Central and South America. For the last five years, Andrew has been senior vice-president, mine operations, for Pan American Silver Corp. Pan American Silver has six producing properties and two under development. Prior to Pan American Silver, Andrew held executive positions with several mining companies, including vice-president of operations at Amax Gold. Andrew holds a Bachelor of Science degree in mining engineering from the University of Idaho and will oversee the development, construction and eventual operations at Abacus's Afton-Ajax project.
Jim Whittaker Project Manager
Mr. Whittaker joined the Abacus team in late 2008, coming from the CRU Strategies regional office in Santiago de Chile, were his work was focused on business improvement for their mining sector clients. James was the leader of the Performance Improvement practice area, and he lead consulting projects in the realms of operational asset productivity, risk evaluation in strategic mine planning, and the audit of Greenfield and Brownfield capital investments. Prior to this, James worked for the Placer Dome group for 15 years, and during that time he held responsibility for process operations in copper, gold and molybdenum operations in Canada and Chile, and enhanced shareholder value through improvements in operational productivity, project start-up, and resource protection.
Gordon Frost Chief Mine Engineer
Gordon Frost has more than ten years experience in the mining industry working for mining and consulting companies based in British Columbia. For the last five years, Gordon was with AMEC Americans Limited ("AMEC") where he worked on projects and mines in Latin America, Central Asia and Canada including Abacus' Afton-Ajax project. Prior to joining AMEC Gordon held various positions with Imperial Metals including Mine Engineer at the Huckleberry Mine. Mr. Frost holds a Bachelors of Science degree in Mining Engineering from Queen's University and a Diploma in Mining Technology (Honours) from the British Columbia Institute of Technology.