Wouldn't expect the quarterly to show steady production. If...

Wouldn't expect the quarterly to show steady production. If anything I wouldn't expect much gold poured in August and September. I have drawn this conclusion from the fact that AXM are issuing $10m of senior secured notes to provide funding through the rights issue (ann 25/9). To me this sounds like minimal cash has come in over the last couple of months.

I personnaly don't always trust the buy / sell depth as I only have access to basic info and it is too easily manipulated. Could be a lot of interest today from traders who are looking for a bounce and not necessarily the fundamentals.

Issue price is at 4c trading now at 5.4c. Still seems like a little bit of a premium to me. 4c per share + premium for buying into the rights issue before the ex date + free options. Don't know if the last 2 add up to 1.4c.

Sorry for these who bought at 16c and above (me included) as management has royally screwed us. Decided to sell out as i didn't think it would currently trade as high post announcement, but my strategy is to get out and re-evaluate later (who knows if it will work). Good luck to those who ride it out.