Their risked options as axiom don't hold a mining license yet as is well understood/discussed Once a ml is held then debt funding and off takes can be put it place and the sp should More accurately reflect the value of the project. Let's also note that a placement of shares at 12c is a lot better than convertible note funding which would indicate that axiom is making progress towards commercialization of the project.
Ann: Appendix 3B, page-10
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