Ann: $26M Capital Raising for Transition to 100000ozpa, page-66

Totally agree @SuchisLife.

11/01/13 to 26/06/13 (approx. 5.5 months)....that's the time it took AXM to progress from a 'strategic review' of operations to a status of 'receivers appointed'. Management was also spruiking a production goal of 100,000 oz p.a (weirdly similar to BLK) although it made no difference to the eventual outcome.

https://hotcopper.com.au/threads/ann-strategic-review.1913256/?post_id=11276162

It's sad there's no funds in the CR to purchase / install flotation equipment for the sulphide concentrates. Only time will tell how long it takes BLK to sail down a similar path as AXM...hopefully a lot longer than 5.5 months (perhaps less if the CR doesn't make it over the line): Mar'19 quarterly might illuminate things with fewer dark shadows compared to pg.36 in the Prospectus. It'd be interesting (helpful) to have more detail from management about the risk/litigation options involving BLK, Pacific Road Capital & the 2017 Pacific Road funding that didn't happen (pages 18 & 50 in the Prospectus).