Australia's largest stock trading and investment forum Australia's #1 stock forum

AVQ

0.00%

2.5¢ axiom mining limited

The makeup of the Company and its share status (CDI's) ect have...

First 77 Last

Share
Profile

Follow
jamesph61

3,992 Posts.

132

10/03/17

17:35

Post #: 23260634
Share

Originally posted by Mr Pig ↑

`
What I've just read here today leaves me feeling sick in the stomach. I've held shares in AVQ ever since I fell for that ridiculous "Nickel Eclipse" report by Port Phillip Publishing, describing in hyperbolic terms an imminent situation that never eventuated. I paid 46 cents each for my first lot of shares and have been adding to my holding after every significant price drop, ever since. Yes, I thought the move to Hong Kong was a bit odd, but I believed the rationale for it. We've been lead to believe that re-issue of the Isabel mining licence is only a matter of time, but I DO WONDER why it has taken so long. Maybe, for reasons that we have not been told, the SIG has NO INTENTION of issuing it to AVG?
When I read the obviously non-viable share issue documents, I filed it in the WPB, but I didn't think it through far enough. If everybody else did the same, it wasn't going to work, and the share price would drop even further. Of course it would drop - but I didn't see that coming.

When I read the gobbledegook about shareholders not being shareholders, but "beneficial entities" who own CDIs, with someone else I'd never been told about holding the actual equity (or title - the terminology confuses me) I was really angry. But what could I do about it? I still wonder why it was set up that way. NOW I'm wondering if it was a premeditated part of the scam to allow any remaining equity rug to be pulled out from under us - leaving us with what? with shares in what? with what so-far unstated liabilities? Can anyone reading this with a better knowledge of these things explain that for the rest of us, or look into it to find out exactly what it means?

What I don't understand is why an enormous, reasonably high grade nickel deposit that is so close to the surface that they could start mining tomorrow with a D6 bulldozer and a tiptruck, for which an offtake agreement has already been signed, wouldn't go ahead. Why would you deliberately prang a resource like that and settle for a scam instead? Am I wrong in concluding that a working mine in a stable, low-cost location, close to a major consumer, is worth a lot more than the scam?

Given the proven resource, what are the prospects of a take-over offer?
Where does Gunvor fit into it all? Are they being taken for a ride also?

Grunt.

Expand

The makeup of the Company and its share status (CDI's) ect have never been a secret
http://www.asx.com.au/asxpdf/20060929/pdf/3yqmv09fwl0mh.pdf

Extract pg 6

I sense a bit of angst in your post Re; CDI's, maybe this could settle a few things for you Mr P
http://www.asx.com.au/documents/settlement/CHESS_Depositary_Interests.pdf

And a few tid bits on Foreign listings to chew on when you have a bit of time
http://www.asx.com.au/documents/rules/gn04_foreign_entities.pdf
http://www.asx.com.au/documents/rules/gn08_continuous_disclosure.pdf

Cheers ........ GLTAH ... J

AVQ Price at posting: 12.0¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

RCE

Recce's R327 found effective against E.coli during clinical trial

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker