AXT hold 6.86% of 25% in the JV... = 1.715%hard to get excited...

AXT hold 6.86% of 25% in the JV... = 1.715%

hard to get excited about that.

and will they sell or hold the Pantheon shares? if they just hold, soon enough they will need cash. so we could see some capital raising at 3-4c?..

noted a bit of interest in this the last week to 7-7.5c, but AXT is pretty risky here imo, not much buy depth to support another sharemarket smackdown.

this share used to be about the IOCG targets.. what happened? the GFC happened and this went into hibernation.

drilling for IOCG deposits usually requires deep holes that can cost up to $2m per hole. this is clearly a high risk strategy for juniors and a reason to find a JV partner to help bear the risk.