Here are some articles to ponder on how good AXM really is. When this was written the price was 86c.
You would be made to sell AXM at this early stage I am accumulating at a rate of knots abd holding for the long term.
It is not every day you get a mangement team like AXM walk through the door. Creasy is not silly and they will all make a lot of money. IMO
Regards
Charvan
Gold project bigger than thought, Apex says
Thursday, 28 June 2007
FIRST drill results since Apex Minerals snapped up the Wiluna gold project from Oxiana have indicated mineralisation extends beyond the resource model limits with several targets remaining open.
Mark Ashley
In an announcement to the market, Apex said initial drilling is focusing on several semi-continuous zones of mineralisation that occur on two closely spaced steeply dipping lodes – the 50 and 100 surfaces – which together form part of the East Lode at Wiluna.
Better results received so far consist of 8.8m at 6.4 grams per tonne gold from 225m intersected 40m south of the Calais 50 Lens South resource boundary and 4.2m at 12.1gpt gold from 176m intercepted around 50m down dip of the Calais 50 Lens resource.
Additionally, 8.2m at 6.1gpt gold from 268m including 5.1m at 8.3gpt gold was intersected about 60m south of the defined resource at Henry5 North, while a hit of 6.7m at 13.7gpt gold from 473m was intercepted on the fringe of the Henry5 resource.
"These results indicate that the Calais 50 Lens is open at depth, the Calais 50 Lens South is open down dip and along strike to the south, and that the Henry5 North target is open to the south," Apex said.
The company said drilling is continuing to extend and infill these areas and additional targets including Brothers Reef, Scroop and Crispin will be tested soon.
"Expansion and upgrading of the resource inventory is our first priority and to this end we have three underground rigs focused solely on drilling extensional and exploration holes for the first time in the recent history of the mine.
"All underground development is now being directed towards establishing additional underground drilling positions to facilitate this process."
Apex is waiting on results from a further 10 holes on the East Lode 50 and 100 surfaces.
Oxiana is continuing with underground exploration and development on Apex's behalf until the official handover on August 1.
Last week Oxiana announced it would sell Wiluna to Apex for $29.5 million in cash and scrip.
Shares in Apex climbed 1c to 86c in lunchtime trading today.
AXM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
