The market is just re-pricing Axiom as an exploration play as opposed to a pre-producer. Given what is needed at San Jorge and the timeframe needed to do it, the SP is going to be under pressure until Management give some sound and believable guidance on the path forward for San Jorge. With only $5M in the tin and who knows what in legal bills, Axiom probably only has $2.5M to actually send on the work needed at San Jorge. You are not going to get anywhere completing a FS for that amount of money. My view is the market is now just pricing in the reality of the situation.
AVQ Price at posting:
16.0¢ Sentiment: Sell Disclosure: Not Held
