who's buying, page-7

Rod,

AXM have indicated they would raise further capital regardless of cash flow issues with the current operation. Expectations seem to be that the next quarterly will not surprise on the upside due to ongoing issues at Wiluna. AXM have not yet achieved sustainable positive cash flow from Wiluna.

It appears the best shareholders might hope for is that at the end of October when the quarterly is most likely to be released, it shows production levels returning to 10,000oz/month. Even if production issues are reported as resolved, I think the market will need further convincing before any significant re-rating. In the mean time, we can expect to see a capital raising to commence mining at Wilsons.

While I am not expecting the SP to reach 0.04 by Christmas, I think that 0.04 is the more likely scenario than 0.40. Maybe come the end of next April (in the following quarterly 0.40 is likely if operations at Wiluna are improved and look sustainably cashflow positive).

Much would depend on a successful capital raising that was for new operations rather than for fix-ups at Wiluna.

gself and bizzo have posted in the past about risks at Wiluna. gselfs recent posts have shown that he has not gained greater confidence in AXM.

Just my thoughts atm.