rights issue... to do or not, page-10

Hi Rewind

I to thought it interesting that they would raise cash when they are sitting on a treasure chest $6mill+ (which in this market is the equivalent two/three times that...as they say "cash is king")

But what convinced me to take up the offer, and might I add it cost me well $12,500, is that they only allowed for a two week window of opportunity to take up your entitlements. WHY?

Also, if it was just a bad case of needing money why would it be fully underwritten...in other words someone is willing to take the lot! What do they know.

I truly believe they, this new and pro-active board, have something up their sleeve.
Did a bit of ringing around and it seems some big players are on board and they are all about making money...BIG MONEY!

I have no doubt AXY will be in the money whether it is in 3,6 or 12 months.

WHY?

1) There are a number of asset rich energy companies out there but are low on money yet some are still trading above 5-15c Buyout...JV...etc

2) With over six mill in the bank earning diddly squat I wouldn't be surprised if they invested some or all of it in a energy company that is on the move. I know I would.

3) Uranium is starting to be talked up again with most debate being positive.

That's my reason for taking up my entitlements. Could all be wishful thinking BUT something tells me otherwise.

Any thoughts?
Astro