It seems to me that they have got through more money than what they are making out. Of the money raised at the end of September,
$12m was for pre-production $30m was for exploration and evaluation
With the exploration budget on hold, i'd have thought the remaining cash position would be closer to $10m, given the $20m cost associated with the delays.
With the gold price at around A$1350, why do they say targeting margins of $600 at current price (i'd have thought they'd be targeting margins of $800 at current price - or maybe $700 if you take hedging into account).
AXM Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held