daytrade diaries... may 21, page-97

While not really a day trade, more like a multi day trade I think AXM may be a good punt for the following reasons

1. Placement and Fully underwritten SPP being done at 20c would suggest to me a floor price of 20c as suggested by the depth

2. 20.9Mt'[email protected]/t for 3.4M oz's of gold which should carry an EV of $50oz given they are in production = $170m

3. reading on the AXM thread a chart posted by Woddone shows AXM as breaking a long term down trend, would appreciate if an experienced chartist cough Kevi cough could confirm this ;D

4. Rising gold price, 3 treatment plants, has just achieved gold production annualised at 120k oz's per annum and yet share price is near lows of 18c

Sorry for the long post but thought Id justify fully why I thought AXM could be a nice multi day trade/punt