When I believe a company has good management I try to take announcements 'at face value'. This has been how I view AXM. It will be interesting to see how the market reacts to this announcement. Certainly no disaster as seems to be reflected in the current SP. I would expect to see some short term recovery in the SP but nothing would surprise me of late. I will be looking to buy more if the price remains at the current level.
Aside from what you pointed out already it was good to read about significant improvements in operational efficiencies with recent changes made. This should enhance the bottom line while production rates remain at 10,000oz/month over the next 8-9 months.
Putting it nicely, I certainly wish an announcment had been made earlier as I'd be surprised if this does not impact financial objectives over the next three quarters.
AXM Price at posting:
9.3¢ Sentiment: LT Buy Disclosure: Held
