£2.50?4 May 2011 18:33
I think you mean 20... :0
Basically a big co was buying and forced the price up, presumably so they could put the warrants they owned 'in the money'.
People exercised and sold the shares and warrants, all at 12.5p, and that brought the price down.
As you'll see, initial results have been promising and there is no real reason (that I know of) for the drop other than that of simple supply and demand, as above.
Also, the Burkina Faso rebellions were mooted to have caused West Africa jitters - but AME are in Mali and it's had no issues I know of.
The original placing was at 10p, they have £5m cash - I originally held 10p-16.5p, bought back at 12.4 - clearly it seems that was too high, but this could easily end up with a 1 or 2m oz resource, and will be on the lookout for other licenses, so I'm very comfortable.
Results of drilling should be out this month.
Soil sampling RNS here: http://investegate.co.uk/Article.aspx?id=201101100700051226Z