re: Ann: Reinstatement to Official Quotation ... Hmmm...So we...

re: Ann: Reinstatement to Official Quotation ... Hmmm...

So we have a possible $65 million in cash if both Younami and Wiluna are sold off. From a quick look at the last annual report, they owed $4 million, plus had a $10 million Hedging gold loan facility. I cannot find much else, sorry all. After costs of sale etc, it is perhaps not unreasonable to see the company holding upwards of $50 million. Ironic that this may actually push the SP up in the short term.
HOWEVER... the company will continue to be producing at a loss, so who knows what might occur in the time leading upto the due diligence date.

I have to wonder, the company is already in dire financial straights and has proven it cannot make any money, or even break even for that matter, why would anyone bother putting an even half decent offer on the table? In two months time they surely do not have the cash to last that long...?

I realize that if AXM goes bankrupt, it will take quite a while for a sale, which would obviously be a disadvantage to production as staff would be laid off etc. So a buyer does seem to have some reasons for buying before it goes into liquidation.

As I posted a while back. This company is an example of financial 'pillaging' at its worst. Retail holders as well as institutional investors have not just been burnt, they have been fried in hot oil. Hundreds of millions have been wasted on what I view is a smallish plant at best.

What would AXM even do if they did actually receive all the above mentioned sales proceeds. Would they return it to those that have for whatever reasons stuck around? or would they buy into another small cap that needs funding? Or, heaven forbid, they buy an another old project and attempt to build a new plant....?