hebei steel, page-12

well i think you are missing the point.

the guys that brought at $0.07 didnt buy that many because the volume was light but some dumb fund managers kept selling AXOG at $0.17.

so that $0.17 investment is worth $0.95 in cash at redemption. If AXO cant fund the $0.95 at redemption you call in the administrators and the asset is sold. The creditors are paid first then the equity holders.

So we simply put it into admin, sell Balla Balla to Hebei for $25m, the remaining AXOG holders get their $12m or so and the rest goes to the equity holders. and you mates at Rockcheck cant do a thing about it unless they either lend the $12m to AXO or purchase more equity. either way AXOG is the winner.

i get the feeling that those that are down playing the AXOG are close to management and want as many AXOG conveted as possible. well i got news for you, i am done with trusting what management says, especially those earning $300k plus that want my AXOG to keep them employed.

no, i will hand over the AXOG when they get financing or we put them into admin.

i still think even at $0.45 they are a bargain.

who knows why rockcheck brought the equity, maybe the same reason Chinalco brought in to RIO at $120. sometimes the chinese are to smart for themselves. if rockcheck was smart they would have been in the market buying as many AXOG as they could, but no, they brought the equity and with out the finance in place its worth JACK, and thats a FACT!!!