1.5yr Trading Cycle Repeats, page-3

AXE's softening share price now likely reflects a general malaise in the junior resources sector in Australia, in the absence of solid and price supportive news.
AXE SP looks to have drifted lower in the absence of any such news. It has halved from above 20c mid year.
Looking at the quarterly, some points stand out. These include the mining lease proposal being 85% complete and the company having $3.0 million in the bank, which would seem to preclude the need for a capital raising in the short term.
Positive news about the divestment of the Leigh Creek magnesite project would probably boost the SP.
What would certainly light a fire under the SP would be news of an offtake agreement or JV arrangement to develop the project. Let's hope AXE can conjure up such news in coming months. They've already spent some time trying to flog the graphite they know they can produce.
Let's face it, the development of any resource in Australia must now be supported by high grades and a long mine life, given the high costs involved.
Questions must now be raised about the future of the sector and whether its priced itself out of the game.
Short term, against the global outlook, things look fairly grim.