Yes, of course his 2nd $200k investment is subject to shareholder approval – as it stated in the announcement.
“Axiom KB owe $24 million dollars. If that money is owed to AVQ it should also show up on their balance sheet as an asset. It does not. Still nobody can answer what it is.” You are reading
Consolidated Financial Statements and the auditor has correctly indicated the parent company loaned the operating company for operating – what is so difficult to understand about this?!? And how on earth is it “off balance sheet debt”?!?!? you also claimed a number of times including
today that this company is “insolvent” - that is not what the auditor is stating. I think you need to go back to accounting 101 buddy.
If the “SJ drill results are poor” all these experts are obviously lying and furthermore if the “results are so poor” why are you so interested?
“Incor have sold down their holding and who knows what they now hold.” They own 15m shares, they only sold ~1m shares – refer to recent corporate presentation.
“Gunvor offtake is just a vanilla offtake, middle-man contract. It includes no debt funding. They are just wholesalers.”
Firstly, what would it matter if was “vanilla” or not ? you were complaining prior the agreement that Axiom doesn’t have an off and cannot do so. Secondly, if you read the announcement from Dec ’14 and the subsequent presentations it includes, “$5m Pre-Payment financing”, “$10m debt facility” and Gunvor “will assume any credit risk for on sale to final customer” – sounds bloody good to me. Still sound Vanila to you ?
“Anitua is just a contractor, currently useless. Their DD goes as far as "if you start producing you pay us money yes?". Of course they would prefer that AVQ uses them instead of any other of hundreds available contractors. Hence they made a deal that AVQ must use them if they ever produce. “
I have been informed a number of times that Anitua is the most successful landowner company in Melanesia. They put in $5m cash and are our 2nd largest shareholder. Still sound like “just a contractor ?! It is also Anitua’s only mining equity investment – and yes they conducted significant DD. Axiom has said they have complete flexibility of which contractor they want to use. I have no reason to believe that has changed.
“The fact is AVQ has no mining experience on their board. A lawyer, an analyst and a broker.” Have a look at their website – Prof Dresinger is their advisor to the board. Check out what I said about the mgmt. and consulting team.
Give it up mate, you are really look silly now.
