Good point CPG. Whatever the exchange ratio, it would look a lot better if the share price heads north a little.
The AXO share price should be helped by getting rid of all their debt at a discount - and $0 cash outlay - even with the dilution - many had priced in a lot worse I think.
This will be balanced by a lot of noteholders with a bucket full of scrip they don't really want. Perhaps some short term weakness followed by gradual recovery, and a rocket ship if mine funding is announced.
If you invested in AXOG for the income, then AXO is not what you want to be in.
If it is a scrip exchange, then it would be over the 15% cap, so an EGM is on the cards - would be interesting for the shareholders to ask a few questions of Mgmt.
AXO Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
