i probably should have clarified that i personally didn't see any risk. The wider market has not become accustom to Refractory Ore. As you will note many of the operations that AXM aquired actually failed because single owners couldn't get enough tonnage through the plant and make it economically viable. AXM took the strategy of bringing them all into a single owner. They also de-risked the project by suring up as much resource as possible before processing the ore. As we know the 5 or so drill rigs on thr ground have been very successful and infact a revised resource statement is due out before months end.
I see no problem with refractory, AXM have the technology and a very capable plant that would almost be refurbished. Come november i have no doubt all systems will be go.
Providing AXM have the success we all believe they will i wouldn't be suprised to see a few other companies switching to or utilising refractory ore as a viable gold producing ore. On the other hand i wouldn't be suprised if AXM snavel up as many tenements around them as they can.
AXM Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
