You cant deny this week has been a turning point for AXO.
Now for the funding !!!
''Official work on the new, $225 million public access berth at Utah Point started last week, with customers Aurox, Atlas Iron, BHP Billiton, Consolidated Minerals, HiTec Energy and Process Minerals International to contribute $105 million towards costs.
Aurox today said deadlines for the satisfaction of certain conditions, including regulatory approval and funding, have been amended.
Under the amended terms, Aurox has agreed to not to start shipments before March 1 2012 and to make pro-rata contribution towards power distribution costs.
"The revised arrangements preserve Company's access to the Utah Point facilities and allow further time to secure the funding necessary to advance the project and port arrangements," Aurox said.
"If the agreement's condition precedents have not been met by 31 March 2010, then the agreement terminates with neither party having any further liability, responsibility or obligation to the other."
