basket case, page-10

Joenes
The LAST thing I want is for the company to waste its cash on a share buyback.
The best thing about AXE is that it has very good acreage in highly prospective South Australia, much of it on virgin ground, and now has $12m+ to spend on exploration.
This is a highly attractive investment opportunity imo.
I'm confident we have a graphite project, and even if the investment bubble has burst short term, it does not mean that a graphite project can not be viable and highly profitable.
But I am also quite excited about AXE's numerous copper and gold targets that the cash will be deployed into exploring and drilling out.
A modicum of success in any of these targets could have a significant impact on a share price given the pathetically low rating currently attributed by the share market which is (a) ignoring the stock, (b) not interested in its graphite project, and (c) prefers to hype more speculative situations in far away places over the lower risk higher probability offerings with existing infrastructure in our backyard.
Sure, patience is required, but as the company is structurally very sound and ideally positioned, I'm very comfortable in sitting with this and letting it play out.
Apart from progressing a graphite project of global relevance, which makes a mockery of the current mkt cap, I'm willing to bet they will find something from the copper gold exploration program.