I agree with you on AXO having good potential but no need to bag out GBG. Your AGO comparison is justified.
Anyways AXO is not even in the same league as GBG.
GBG has more PROVEN resources than AXO plus also has more POTENTIAL resources too. AXO hasn't even got a large enough JORC compliant resource base yet.
GBG's end product is of a higher grade and thus will get more $ than AXO.
They also have Ansteel (the 2nd largest chinese steel maker) as a partner, AXO has no one at the moment.
GBG financing is in the bag, AXO hasn't even done a BFS.
Plus AXO's decision to slurry pipe it will probably back fire as they won't be able to expand it as much as if they were using rail.
I do agree that AXO's market cap is very small at the moment so it will no doubt be a multibagger.
