Ann: Trading Halt, page-23

Took some time to follow up on PotGuts downramping comments on AXE's magnesite deposit in South Aust. Firstly, no doubt it is a very large deposit, but a figure of 30 million capex was indicated some 5 years back to produce upto 150,000 tpa calcined magnesite which seemed to be the product they were targetting. No mention made of the viability of selling DSO grade, likely did not stack up from a financial perspective. AXE has sat on this deposit for ages and it would seem as time passed the capex number was hard to swallow given in the meantime ( past few years) the main focus has shifted to and been almost exclusively on advanced battery materials ( graphite) and graphene also which are advancing well. Consequently they decided to sell the magnesite project and apply funds to where their strategic focus is now. Some concern was noted by posters as to the low-ball price, but when funds are tight you have to prioritize given that whilst the magnesite sits in the ground it ain't earning, and other priorities take front row.
Potgut, your dowramping obsession with KOR borders on the compulsive. Did you get burnt somewhere along the way and hold a grudge. Just asking. Sometimes I get pretty upset when I do dough, sometimes big-time, but have learnt to move on.