G'day, Happy. Nice to see you :)The issue, as I see it, is not...

G'day, Happy. Nice to see you :)

The issue, as I see it, is not about the company AXM at all: it is about the capital raising, and whether I can profit from it. We have a number of positives here re the raising: conditions precedents all being met, and likely to be so as far as POG in AUD and the All Ords Index requirements, andf they have already organised sub-underwriters, including major holders, according to the documents.

With the mechanics of having people contribute to the raising, we now have a share price of .002- the raising price, and it is such a steep discount, that the underwriters would have known that this is the amount they are comfortable to underwrite to recapitalise the company. Can they raise the money? Small retail holders probably won't chip in unless they feel they might be able to profit- particularly seeing so much money has been lost so far. So, they'll want the SP to be above .002c before they'll contribute. The company needs every holders' money, and knows they won't get money from some who have lost so much. There is a lot of incentive here for this thing to work out.

I see this not as about running a mine, but running a capital raising. Very different picture.

If there are flaws in what I am thinking, please let me know.