What is there to say really. Its like watching a train wreck. You want to pull away....
The initial sale price of the Youanmi Gold project was $15 million when announced back in Early Feb.
The price now agreed is $5 million. Ouch. A 2/3 drop. With $2.5 million of that not getting paid for another 4 months. (Might I add that they state the new deal was still the best one put forward....)
Also the sale of the Wiluna Plant, I think the $50 million initially offered is going to be reduced too. The period of due diligence has been extended for another 60 days... I suppose that is to see whether APEX will go belly up and accept any price.
I very much feel for holders. Gold sector is viewed as toxic right now. The contrarian in me - how I wish I had capital to buy some of the more beaten down gold stocks!!
AXM Price at posting:
2.2¢ Sentiment: Sell Disclosure: Not Held
