SIL - my old mate at Wiluna reckons that's the story. Word on the decline is that GA isn't a company saviour by any means and they still struggle with unsuited bits of gear (eg 1/3 - 1/2 of the fleet of UG Nissans parked up at the LV workshop).
Having also been told of the high fixed costs (the old story of blokes sitting round isn't true as much now, it's more a case of their salary being well above market rates whilst performance is nowhere near) I'd wager the Apex gravy train is about to come to a grinding halt.
My money is still on the SP falling to sub 2c (or AXM running out of cash - a strong possibility) and someone with deeper pockets than AXM shareholders buying Wiluna at a bargain basement price. Whether or not they get it as a direct takeover or in the Quokka/Trading Post is another matter entirely.
Lastly, why sell 'just' Youanmi? Might as well sell Gidgee too. There's been no news on the Gidgee redevelopment for ages and according to the webpage, theres 2.5mt of Youami dirt vs 1.5mt of Gidgee dirt. I note Gidgee is much closer but sheesh, no news is bad news at this stage. Have AXM noted anywhere that until Wiluna's sorted, Gidgee is on the backburner? Cos that'd be my guess. In which case... flog the lot :(
Having re-read my post & checking the AXM SP graph, the SP should be <2c in 3-4 weeks or so regardless - barring a superb qrtrly and takeover speculation. I used to be semi-positive on AXM, thought at one stage they had it right finally. But the less info that gets dished out, the more doubt in my mind they are succeeding. Good luck holders, DYOR as always
AXM Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
