bikenut - why would you take the AXMR price as indicative of...

bikenut - why would you take the AXMR price as indicative of demand for AXM when there is greater volume of AXM trading.

Clearly there is something bizarre going on with AXM/AXMR trading. The capital raising is a fait accompli, so anyone trading AXM as though the dilution isn't going to happen is seriously misguided.

Anyone interested in going long AXM for more than day trading would be mad to pay more than 4c + whatever AXMR is trading for, yet that is exactly what is happening.

Anyone interested in day trading AXM must surely realise that either AXM is way overpriced, or AXMR is way underpriced, so why take the risk on AXM?

Anyone who didn't want to contribute to the rights issue would have sold into the cum-rights strength. If you wanted to hold some AXM, but not take up your full entitlement, the sensible option is to sell AXM for >4.5c and take up rights at 4c.

I can understand not wanting exposure to Apex Minerals, but assuming you do, there's just no logic I can see for buying AXM instead of AXMR.