Ann: Part 9B Native Title Agreement Received , page-9

iacchus,

Certainly am aware of AXT's SP history. I agree, 50c+ on good results can be expected. I think rumours of a take over will find us pushing well past 70c and looking at the $1.00 mark. Mind you, thats a long way away.

After 19-22c range I think from memory without checking my charts it was 29c-32c and then blue sky. If we have good grades and resources are looking feasible, a market cap of 50-150mill could be expected sending us over 50c no probs.

AXT is a multi bagger, thanks to Hugh keeping the shares on issue to a minimim and sticking to his word. Just patience was needed.

SOME HOLES:

IHAD5 returned:
5.76meters @ 1.67% Cu, 18.5g/t Ag, 495g/t Co, 403g/t Pb and 2,387g/t Zn (from 392.84 to 398.6 meters)including 2.5 meters @ 2.88% Cu, 31.4g/t Ag, 831g/t Co, 453g/t Pb and
2,619g/t Zn (from 393.5 to 396.0 meters).

The latest results in IHAD5 represent a four-fold increase in thickness of mineralization at this location, relative to intersections in vertical diamond drill holes IHAD2 and IHAD3 (respectively 1.5 meters at 1.12% Cu, 17.4g/t Ag, 625g/t Co, 1,744g/t Pb and 3,745g/t Zn, and 1.33 meters at 1.33% Cu, 18.0g/t Ag, 801g/t Co, 519 g/t Pb and 3,110 g/t Zn.