Ann: Half Yearly Report and Accounts, page-5

Just wondering if anyone has much of an idea what's going on with AXE. It isn't like the half yearly is replete with market moving info.

In fact, after AXE posted a high above 40 cents in the 2012 its been on a hiding to nothing. Okay, not nothing but it plumbed a multiyear low of 7.0c in mid March before closing Friday at 8.0 cents.

Is anyone aware of excitement that may be looming? Some indication - indeed, any indication - of how marketing Campoona graphite is proceeding would be greatly appreciated. The company has apparently been out in the market, but to this point this has yielded little excitement.

One of the positive things about AXE has always been the relatively few shares on issue, it has a market cap of just $7 million.

AXE had just over a million dollars cash at bank at Dec. 31. Management have done well to husband this limited resource over the past few years. But a capital raising is on the cards this year. With the current share price there is a risk of heavy dilution if the company wants to build a sizable nest egg through a capital raising, were it to succeed at all in what are these tough times for resources companies.

News of some sort of solid agreement regarding mine offtake or mine development JV would or should put a rocket under the SP, and help in any funds raising.

But for a shareholder who has been in AXE since the 2012 second half, it's been a slow and dull slide into what is the potentially precarious current position. And i thought the graphite sector had its moments of excitement.

Can anyone please brighten the day?