low volume, page-6

"“Obviously there is operating synergies for consolidation but there are other synergies for further consolidation in the Australian gold sector.” Baker Steel Capital Managers took a 6% stake in Apex in June and has since increased its interest to 8.74%, making it Apex’s
third-largest shareholder. “I don’t want to speak for them but their views on the consolidation of the Australian gold industry are very similar to ours and I think it has to happen,” Ashley said."
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Seems to me that while we're sitting here lamenting the the low SP, Baker Steel are lapping it up with both arms.

They say the market drives the SP but over the last few months one has to wonder who is really in AXM's driver's seat!