Fear not Greedy.I think the answer is simple.....market just...

Fear not Greedy.

I think the answer is simple.....market just does not know about this stock. When the market wakes up (i.e. when they announce they have the finance) it will be too late.

IMHO this one will pay. The facts:

1. Charles is talking to Hebei or RockCheck about finance/joint venture/equity.
2. Both Hebei and RockCheck have signed the contracts for the full 6M tonnes projected pa initally, with the remaining 4M tonnes pa after mine development also purchased (RockCheck again).
3. Iron ore is a strategic resource, essential for China's growth and bid for World No.1.
4. Rio/Chinalco failed - China needs ore from somewhere.
5. Vanadium is a tasty bonus and point of difference.
6. AXO's ridiculously small market cap compared to other players given the size of the resource, contracts in place etc. The discounting due to credit worries has been completely overdone, even if the risk is significant.
7. $1B not a hell of a lot of money for a state run chinese steel company to raise.
8. Flow of wider market/economic news starting to improve, and hopefully risk appetite's improve with it.

Bear in mind these are only the positives. Negatives (credit risk, government intervention etc) are still there of course.

The winners will be the accumulators - having a project this close to being sealed without any interest from the market must make accumulation a breeze. I wish I could purchase more, but I have enough.....diversification is important.

I hold FPO's, and my opinion is based on my own methods of analysis, risk appetite, etc. DYOR.

Puff