drill results coming out

With the release of the Drill results for AXT due shortly, this will see the following take place:

- Xstrata no longer spend a further cent on the joint venture drilling program


This will see AXT shareholders left with approximatley $500k in cash, and an investment in Patheon Resources, which the director Justin Hondris is also a director of.

The patheon investment can only be described as disappointing, with the movement in the currency of the pound against the AUD, and the fact the this exploration company has tied up capital when it could have been used to explore for assets, as opposed to speculate on shares listed on the london stock exchange.

possibly the most disappointing stock ever listed on the ASX this one in my opinion.