quarterly: what a train wreck., page-5

really, you're surprised?

Spare me - anyone with half a brain has known this is the only track AXM has been on for 18 months.

MA threathened to put the company into administration 2 weeks ago if he wasn't paid his 1.2M in cash in full. EE offered shares, a cash/script split, deferred payment but MA held out and got the lot in cash. He's gone to eastern europe with his wife for some R and R - laughing all the way to the bank (via the ATO).

Must shut the mine and go drilling to try to find something to firstly build up the resource base then come up with a reserve (yes that implies it's going to has a positive cash flow) then maybe treat at a lower cost.

Needs minimum another 20M - good luck with that.