I'd just add here that the Jim Powell analyst report 10 months ago for Laurentian Bank gave that $2.90 target as a 1-year target price (well short of what AMY would be worth once they're in production) --little did he or any of the analysts in the jr commodity space know that the heightened fears over European sovereign debt would tank all "speculative" stocks in the "RISK OFF" market mood which held for most of the second half of 2011.
When i run the numbers conservatively, i see AMY -- JUST FOR EMM -- being able to do around 0.40 - 0.50 EPS (including extra share dilution, 25% for a JV partner, etc) after first full year of production. That should result in AMY being at least a $4-$5 stock in a few years.
Add an expansion to 10k tpd production (beyond the 3.5k tpd base case) and we go MUCH higher.
Add EMD/LMD and we go stratospherically higher.
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