Argo management have done a great job havent they.
They were a cashed up explorer who sold half there stake in there flagship project when the share price was 4 cents!
And if you think that you have found the big pot of gold at the end of the rainbow i think your kidding yourselves.
Look back in time. AXT took advantage of the MOX drill results. The only reason AXT listed was to take advantage of the hype sorrounding the olympic dam.
A heap of companies listed. around about the same time.
The upside is huge no doubt, butthe downside is still that you could lose 50% of your capital in a 2 day period. and if you do have a substancial stake, good luck getting out if drill results are poor....
Xstrata don't have to spend that $16 million.... so they are placing a safer bet than any of us!
for those who think this is a sure thing, i'd just say tread with caution, as management havent done much right since float.
AXT Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held
