snuffYou are correct, AXO do not have cash or a BFS, but that...

snuff

You are correct, AXO do not have cash or a BFS, but that will come.

You have admitted previously, that you do not know much about AXO. I am surprised, that you have not taken the trouble to read their announcements and the March RM research report, or taken on board some of the knowledge, posted by others on the PMA & AXO threads.

You state that "it will be years before AXO have anything, based on PMA experience." By the second quarter of 2008, AXO will have their titanomagnetite concentration plant. It is my understanding that Chengde will produce vanadium as a co-product, cheaper than primary producers, AXO or PMA. I believe, PMA will come third!

You state that none of the AXO boosters will say who owns the most ore! AXO own so much, that I do not see it as a relevant consideration. When they viewed Windamurra form outer space, they made no comment on the inferior quality.

I have not been able to find an npv of the PMA project, can you help?

You own lotsa PMA! I am pleased that I own a reasonable quantity of AXO. I am more pleased that I do not own any PMA!

I could be wrong! DYOR!