initial substantial shareholder notice, page-10

Why are the AXM shareholders posting here so sure that these shares will sky rocket in the short term. I have bought some of this stock, speculating that gold prices will rise, and would love to see them go to $1.00.

However looking closely at AXM, they have not made any money for the last 8 yrs and analysts forecast another loss for 2009. 2010 forecast for a profit of 8 to 10 cents p/s with a P/E ratio of 8 would value shares @ 64 to 80 cents.

Right now AXM is worth some where between 0 and 80 cents. IMO closer to 0 until it actually makes a profit and starts paying dividends to shareholders.

I understand that valuations involve some speculation regarding potential future upside. But what formula do you use to value a stock such as this at this time. I am genuinely interested to hear some educated feed back.

Kind regards.