Ann: Corporate and Operations Update, page-88

Very interesting !! One may ask how does a company with just over $1million in the bank manage to finance the salaries of all these new staff - on top of meeting the current high overheads ? Not to mention convince these new staff that their jobs will be secure ?

All I can assume is that Axiom has negotiated alternative funding, significant enough to confidently start hiring in large numbers. Importantly, not equity funding but lines of credit either from off-take parties (i.e. customer funding) or banks. My guess is the former rather than the latter - bank non recourse project financing has become increasingly difficult to negoatiate in the market, particularly from Australian Banks. Albeit, may be more accessible through one of the export credit agencies for 3rd world economies.

Finally, looks like we are putting the building blocks in place to start mining.

Happy days ahead !!!