crossings, page-3

i doubt it, brokers arent that blatent.

i think it was probably some insto's positioning themselves for the up coming announcement re finance.

either that or the Chinese are starting to buy more. i was having a look over the numbers again last night and if AXO can get the finance to build the mine it will takeoff big time.

if iron ore prices and AUD/USD stay the same it will probably have EBIT of $300m - $350m when it goes into production. Even if you assume a low EBIT multiple of 7x it will probably have a market cap of around $2.275b. Depending on how many shares they issue it should have a price of around $4.50. When production goes to 10mtpa in 2015 it will probably have a price closer to $7.

If they are able to further increase production to say 15m-20mtpa then the price will be even higher. With all of that cash flow they then might be able to start focusing on recovering some of the Vanadium and Titanium. That will further add to the value.

However, all this hypothetical depends on the finance, if they can get it they will be laughing. If they cant there will be problems.