negative comments only???, page-4

I am optimistic of AXO's long term prospect but the short term is a bit unnerving. Capital raising (perhaps a small one amounting to $20M or so) can't be ruled out just to maintain working capital.

Charles may be undermining our negotiating power because of the March deadline. The chinese know they have us by the gonads and will drive a real hard bargain to force AXO to make huge concessions in any JV pact.

They know approaching March, AXO will be depleted in cash and will need to draw upon the emergency loans secured earlier to pay the Port Headland Authority and other liabilities.

AXO is a good story no doubt but it faces stiff compettion for funds (not just the Ridley, Southdown and Wiluna West of this world) but countless large scale magnetite projects overseas where governments are more accepting of chinese majority ownership.

Fingers crossed.