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AVQ

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2.5¢ axiom mining limited

don't think so bud. While they wait for licencing they will...

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Redpapa

1,516 Posts.

22

03/02/17

14:22

Post #: 22352936
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Originally posted by jazzmox ↑

"With the near completion of the Phase 1 drilling, the Company is assessing new saprolite exploration targets that occur at San Jorge to continue broader modelling and analysis. Upon completion of the resource definition infill program in the phase 1 area, focus will shift to drilling extensional and exploration targets. The drill program is designed to establish an initial JORC Mineral Resource for the commencement of mining in 2017, subject to licencing."

This tells me they are not confident at all anymore. More poor results today. Check the table, lots of missed target.

They are way behind their own timeline. Jorc was supposed to be out before Christmas, mining was supposed to start mid April. Now it's "commencement of mining in 2017". They know these results do not stack up so they need to keep looking.

I doubt it will happen, especially at current nickel prices. Doesn't look like a homogeneous mineral resource fit for a bulk operation.

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don't think so bud. While they wait for licencing they will explore as much of that area as they can. What you are getting at is they are saying "well, we lucked out here, let's go try over there", whereas what they are ACTUALLY saying is "while we're waiting for licencing, let's keep exploring...I mean, what else are we doing?". Big difference

AVQ Price at posting: 18.5¢ Sentiment: Buy Disclosure: Held
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