re: new strip ratio and drilling nose,
I have read the AXO report and in it they refer to the production of V by a process they are going to use that is used in South Africa. I cannot see them producing V any time soon. It will be well into 2007 before PMA produce and they had something already in place. AXO do not even have the money to start building anything and given the current situation in the Resource section there will be significant delays.
I also understand, correct me if wrong, that PMA ore is oxidized while AXO will not be using oxidized ore, they will discard it. They will need to blast but PMA will not.
I do not know what AXO are going to do but I suppose they might be able to mine the titanium material and ship it.
I can tell you for sure, the existance of AXO does not change the valuation of PMA. That is not my opinion but the view of someone who understands what is happening.
Regards
PMA
precious metals australia limited
