The Sector is very hot at the moment so it is certainly worth apraising.
I like the idea for several reasons. 1. Undervalued assests that can be unlocked and we receive shares. 2. AXE can sell down to a 19% holding to fund the core business without further dilution. 3. Easy to JV separate tenements rather than the whole business,which allows multiple partners, yet still remained involved in interested projects at nil cost. 4. Fast tracks each project on its own timeframe, merits and funding.
I dont see this as selling the diversification or the farm. Its getting an independent assay of the assets and putting out feelers to the market. I see it as a way of funding without further dilution. I am glad they are not taking the ASX 2000+ way of funding and just roll out another CR.
Personally I think the phone at the Office will meltdown with offers as Companies get a chance to purchase a pure tenement/mineral.
cheers
AXE Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
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