The stock price then was47.5 c. Today, it's 63.5 cents. After adjusting for a bonus issue, the stock today is effectively 69.9 cents
!
Back then, Oxley had yet to amass a large landbank in Singapore. Today, it has a large landbank and is ready to roll out a pipeline of projects with gross development value of S$3 billion.
If the market stays buoyant, Oxley's projects in SG will be a remarkable earnings growth driver.
Read it again to better appreciate the fast-evolving story of AMA. The share price has moved from 30 cents (12 months ago) to 37 cents. That's a 23% return.
After significant drilling, AMA is set to announce a resource & reserve upgrade. It is expected to be significant. This is potentially a major reason for the market to re-rate the stock upwards.