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2.5¢ axiom mining limited

Hi Rusty THANKYOU once again for your time and honesty.......i...

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zaf39

208 Posts.

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30/05/17

08:53

Post #: 24982212
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Originally posted by rusty02 ↑

Morning all,
Just had a look at AVQ and where we sit.
Noticed a few mentioning my holdings.
Firstly;
*SJ in on hold waiting a ML and K awaiting a new PL.
*Still under a cloud as to the direction management will take with funding as their cash burn should see them needing to raise this month (June) or the qterly isn't going to look good.
*No Tangible news from the SIG on processes or timelines.

Secondly;
For me the astute option to take was sell a portion of my holdings (at a huge loss) as this stalemate could go on for some time and have put the remainder in the bottom draw. The sold portion was diverted as I have other plays; one needing interactive and proactive input in helping management move into production and the other aiming at methods to decrease C1 costs. Both have a bright future, one is already +CF.
AVQ's future depends on Sovereign Risk. Unfortunately the risk is to great to be spending my time or parking big $$$ ATM. Axiom ATM is just too high of a risk to have overweight in my portfolio and I paid the penalty..heavily!!!. Axiom's future lye's squarely with the SIG and, for the time being, commissioning to lowering the monthly cash burn which seems out of proportion to similar Co's with a 3rd world leases. The cash position management find themselves in now is purely a result of their opulence. $12m spent on "Others and Expenses" in the last 4 years...... and this figure did not cover salaries, mining, leases, rents etc etc etc. Ref; Annual Report, 16,15,14,13
Coupled with the poor explanatory statements made at the sher's meeting in Brisbane by management and the depleting PON (now $9000/tn) my interest will only ignite now if we get Kolosori back. I'm a production engineer and my interest are such.... "back of envolope" calcs. Have no interest in corporate law or governance.

So in conclusion...no I haven't sold out and will be posting again when we have some tangible news and management provide mining data/ANN again. I do truly believe Axiom is the only mining Co ready willing and able to mine the Isabel project, the problem is when and will Ryan have the necessary bonds in place before Axiom are sent to the receivers.
GL all. fingers xed to all the sher's.

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Hi Rusty

THANKYOU once again for your time and honesty.......i notice one of your plays you mentioned has an announcement out today.
hope it goes well for you.
I have decided to stick with Avq.(high risk high reward)
Cheers
Zaf

AVQ Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
7 Upvote

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