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Australian-American Mining Corporation NL
Symbol: MMNZF
Analyst: Juan Noble
Taglich Rating: Not Rated
Price Target: N/A
Time Horizon: N/A
Rating Established: May 6, 2010
Price When Established: $0.065
Most Recent Report: May 6, 2010
Price When Issued: $0.065

Most Recent Update

Initial Research Report (Dated May 6, 2010)

What's New

On May 31, 2010, Australian-American Mining announced that it raised $1 million in a placement of 25 million shares at A$0.04 per share to institutional and sophisticated investors.

Proceeds from the placement will be used to finance drilling programs in the company’s US properties and to acquire additional properties in the US.

A portion of this placement was taken up, for the first time, by US-based investors.

With this announcement, the trading halt on the company’s ordinary shares was lifted by the Australian Securities Exchange.

The company’s stock is now listed on the Australian Securities Exchange under the symbol AIW (formerly MRO).

In a May 24, 2010 release, the Australian Securities Exchange announced a trading halt on the company’s shares. At the request of Australian-American Mining, its shares are being held in “pre-open” pending an announcement by the company. Unless the Australian Securities Exchange determines otherwise, trading in the company’s shares will be held in pre-open, or halted, until the earlier of the commencement of normal trading on May 26, 2010 or the release of the company’s announcement.

Company Description

Australian-American Mining Corporation NL (AusAm), headquartered in Belmont, Western Australia, Australia, is a junior (exploration) uranium mining company with mining property interests concentrated in the US. AusAm is characterized as a junior mineral exploration company, as it relies on the financial markets to finance its exploration activity. Senior producers generate revenues from the production and sale of the minerals they are mining.

The company’s US headquarters are in Tucson, Arizona. AusAm’s principal properties are in relatively accessible uranium rich areas in the US Southwest – Arizona, Nevada and Texas. Exploration and development work on Rio Puerco, Apex and Long Horn by their previous holders have given all three properties an infrastructure that significantly reduces capital expenditure requirements and enables AusAm to step up exploration and begin development sooner. In addition to Rio Puerco, Apex-Lowboy and Long Horn, the company has a 49% interest in the Bernard Gold project and a 40% interest in Apache Basin, both in Arizona, which show potentially significant deposits of gold, uranium and manganese. The exploration of Bernard and Apache Basin is being funded in part by joint venture partners.

Taglich Research Reports

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The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to change in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an analyst or member of the Research Department may sell such securities after obtaining expressed written permission from the Director of Research. Murdock Capital Partners, as sponsor for Australian-American Mining Corporation NL shall pay to Taglich Brothers, Inc., the sum of US$12,000 for the creation and dissemination of research reports for an initial six month period. In January 2010, Murdock capital paid an initial monetary fee of US$6,000.00 to Taglich Brothers, Inc. Another US$6,000 is payable to Taglich Brothers, Inc. on issuance of an initial research report on Australian-American Mining Corporation NL. After the initial six-month period, Murdock Capital Partners will continue to pay Taglich Brothers, Inc. the sum of US$2,000 per month for the creation and dissemination of research reports on Australian-American Mining Corporation NL unless services are terminated. For further information and Taglich Brothers, Inc. ownership data please refer to each individual report.

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