As the MD stated to me the June quarter could see 3 drilling programs underway (Xstrata + Pantheon). This is the most activity AXT has done in a long long time.
There are plenty watching Argo and their Xstrata JV...
If you research back and look at the IHAD 2, 3 & 5 holes Argo drilled, it gives you the reason Xstrata are in this. The drilling program is going to target the "sweet spots" so to speak.
I think you'll find a few investors getting back in soon after a long wait for this drilling program. Hence why the MD stated it can be reasonably expected to impact the SP.
There are only 82 mill shares on issue, wont take much to move and with excellent drilling results like IHAD 2, 3, 5 this could skyrocket very quickly as rumour begins of an Xstrata takeover or offer to buy the tenement. Which is just a matter of when and after how many holes???
AXT Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
