wobbybait - how AXM is still a going concern defies belief. from the quarterly their average quarterly intake is about $16m for the last 3 quarters and their estimated cash outflows this coming quarter is $16.2m, they have $70k cash, this last quarter shortfall will be at least $130k - that's on the best case scenario.
now with the total liabilities I don't think the provisions will be paid if it goes into care and maintenance and the majority of debt is for the fleet of trucks and machinery(chinese will assume that debt if they were to T/O), If the Chinese don't take the mine over BLK will be in the box seat to get a plant at under $10m to pay the remainder of creditors if this goes into administration (and by the looks of it, that's where its headed unfortunately)
I feel for the old holders and I always try stay positive on stocks and have posted bullish outlooks for AXM if they were to turn this around in the past but seems terribly hard to make it work even with Ed Eshuys who knows the grounds well.
AXM Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
