What is really going on? 1. Apex is still producing and selling gold. 2. There is still significant reasonable grade ore in the ground. 3. The price of gold is now over US$1,800 per ounce. 4. The costs to produce would be no more than US$1,100 per ounce. (providing a reasonable production of say 18,000 ounces per quarter is achieved) 5. The site is in need of some capital expenditure including power house refurbishment etc. 6. There was only minimal cash in the bank at quarter end. Now there should be a reasonable surplus from expected production since 30th June and the substantial increase in POG.
Why are so many posters suggesting shareholders sell their stock at levels of less than 1 cent? Why is there now buy bids of over 50 million shares at .8 of a cent? Why is management not putting out interim results to try to give confidence to the market?
Could it be that the corner has now been turned?
There is now not a need for a capital raising. Management already has a surplus and is attending to overdue financial commitments.
Higher volumes over recent weeks have actually seen an improvement in SP against the global retraction.
If the gold price holds present levels a re-rating of the company would be imminent.
I can see the improved company position will be reflected in the SP very soon.
DYOR
AXM Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
