looks like a bottom has formed , page-3

well GBG hasn't got the finance sorted until the cash is in the bank.

Consider that AXO only has a market cap of around $170m fully diluted and its cash backing is around $0.48 per share. So there is not much down side left.

i consider AXO the better bet as it has lower capital costs and low costs on the production of the Fe. Given AXO should be producing 10mt pa of Fe concentrate by 2015 i consider AXO the better value play.

Given AXO has an expected EBIT figure of around $300m by 2010 this stock could be trading easily at $5 once in production.

Once AXO have the financing sorted it will be a screamer. however the key will be getting the finance, once thats done it should be smooth sailing.