Ann: Trading Halt-AVQ.AX, page-106

Cheers m8,

The TH both surprised me and upset me when i first heard about it, especially as i thought we were in deep discussions with a number of parties so i would have thought our partners would increase their stake in Axiom to get SJ drilled.
The questions regarding $$$$ we all asked @SH briefings only a few months ago so their should be no surprise to our financial position, further with a drilling program now indicated obvioulsy we need $$$ to do so.... The important factor to remember is that once the drill goes in to SJ and we can prove that resource and/or grades are as good as Isabel then our bargaining position increases 100 fold.... at the moment everyone who wants to secure a long term supply agreement, but any potential investor is in a position of power knowing the SJ is not proven and also our bank balance is something they will play on.

Personally.... i believe we will have both Isabel and San Jorge delivered @ the same time, with 2 parrellel operations working side by side at the same time, this is not something we even though possible before but now this could be a reality due to the timing of both this drilling and the delay in SIG giving formal direction.

As for Pump b4 raise...... Are you guys serious???? so from 12.5c to 32c is a pump.....wooow i wanna join these guys because you would need some serious deep pockets to even attempt that, esp with the volumes we have seen.
The Job Adverts speak for themselves and show our position also.

The Raise:
$3mil @ 28c plus 1:2 @ 40c
so thats 10,700,000 heads and 5,00,000 oppies.... not much dilution and the way we have been going will be easily absorbed.

Looking for some kind of official news from Gov very soon, and looking forward to 1st set of assays from SJ, this will totally change our position to potential partners looking @ axiom.

Small funds raised, was needed to drill...but as long it gets us a result, 100% worth it...