Happy punters who've done well out of LFE's recent share purchase plan might now like to get in on AXM's offer of shares at 10 cents each to shareholders on the register as at August 8. There is a maximum purchase figure of $5000. AXM currently has only 44 million shares on issue and major shareholders control almost half of them i.e. Mark Creasey 33%, Noranda 5% and Mac.Bank 5%. The new issue could increase the no. of shares to 66 million but could also increase cash reserves to almost $3 million. This company has areas of interest in WA which joint venture partners will drill. However, many of us are more interested in their partnership with Noranda that is soon going to see drilling taking place in Western China. Notice quite a few small buying orders since the SPP was announced and obviously some astute buyers are taking a small stake now so that they will be eligible for the $5 grands worth of cheap shares.
AXM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
