AVQ (ASX) Ann: Trading Halt-AVQ.AX

Originally posted by sirjohnnyboy ↑

You are correct djm, RM did acknowledge and support the call for the next cap raise to a SPP available to current shareholders. I asked the question at Brisbane.

There are a lot of loyal long term shareholders who will be fuming at the massive dilution and mates-rates that this company seems to be in favour of. The reason many won't say anything is a combination of their loyalty and "functional stupidity" (not an insult).

http://www.abc.net.au/radionational/programs/bestpractice/stupid/7659452

Many have suggested that jealousy exists because we are not part of the rort ...but not all of us aspire to be bank robbers (even if it was legal).

There are other reasons why this action is not in the long-term interests of Axiom mining ...and one of those is reputation and it's potential long term business effect on the company.

I tend to think that the events that transpired to allow the "inner circle" et al to potentially 10 bag plus at 75c (20 bag at $1.00?) followed a loose script that included opportunism when certain conditions occur. More on that later.

I have sold down much of my AVQ ...because I don't trust the SP action, the information circulating and the history of the cap raisings (18c to 12.5c to 35c to 25c to 32c on no company announcements). The overview makes me feel that it's rigged and we are being played for fools by a master puppeteer (who continues to make squillions).

I believe AVQ SP will prosper when Isabel is awarded, but it may float until then and also has been capped (knee-capped actually) in the long term as others have mentioned. I will look to top up when things stabilise more.

Cheers

SJB All IMO

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Nothing wrong with a company using CR from issuing more shares to get into production, but the problem with some investors is when the company continue to raise CR each quarter and use those cash funds for BAU cash spending for the next quarter (and continue the cycle) as you have indicated (i.e, further exploration drilling, why???, they already know they have at least 20Mt of laterite nickel ore and I guess the CR is mainly for wages......).