Previous company announcements have suggested that increasing production to 20mt per annum is possible, provided the resource upgrades come through. If there are other interested parties in signing offtake agreements, I'm sure this could be accommodated. CAPEX would then increase making funding more difficult. Perhaps AXO is too big for a small financing but not big enough for the likes of the large steel mills to get interested. My money is still on Hebei coming through with a deal but they sound pretty fricking disorganised (they haven't even finalised their merger after 18 months!) Hebei's disorganisation is the key to the delay IMO
AXO Price at posting:
26.0¢ Sentiment: LT Buy Disclosure: Held
