re-rating of the sector, page-25

you heard it hear first, thanks myopic. so is that some disguised code to say that the MD is in China as we speak signing up the deal?

if i see another chinese newspaper article confirming something then i will believe it.

some sort of equity component, that sounds to me like you know what the pitch for the deal is already. want to share some thoughts with us about it?

im banking on them raising between $50m-$100m from issuing more AXO equity, potentially some to the JV partner, some to the China soverign fund, some to the chinese company they are obviously talking to about construction and then some as an insto placement, i dont think us small guys will get a go at it.

my tip is that they will try and issue equity to the chinese at around $0.75ish and then do the rest via insto placement and maybe an SPP.

if they can keep the number of new shares to less than 150m then this will sail past $1.50 in no time if anything ever happens. so if we dont get a deal soon i think we should be pushing for a sale of the company at $1 per share valuting it at $210m or there abouts.

myopic, say hi to Stern Hu while you are both in china for me!!!

ta