i just thought i would copy the wording of the trading halt request in here.
"The trading halt has been requested pending the release of an announcement concerning a material agreement in relation to the Balla Balla project"
surely this can only mean one thing!!!!
my bet is a MOU with Hebei for them to buy a X% of Balla Balla for $XX and then arrange finance via a chinese bank. if this is what gets announced then this stock should fly, the only questions is how much of the project AXO will end up holding and how much equity in AXO gets sold.
i also note that MCC brought 5% of Clive Palmers Resourcehouse for $225m. If MCC is going to invest $225m for 5% of Resoucehouse, how much would AXO get for 50% of the project?
i think we should be looking at Centrex and Gindalbie to get an idea of what the share should be trading at post announcement, ie number of shares on issue, market cap and stock price to get an idea of where AXO should be at.
lets hope that this is what we have been waiting for because its taken 3 years!!!
AXO Price at posting:
32.5¢ Sentiment: LT Buy Disclosure: Held
