IMO, AXM will do a share consolidation, probably to bring share price to somewhere near 20 cents, so, say, $20 million will be raised at 0.055 cents, meaning there are then some 6 Billion shares on issue.
There will then be a say, 1 for 40 share consolidation, meaning there are around 150,000,000 shares on issue at 20 cents.
MA will then be sacked as CEO and Ed Eshuys will be installed while also offering up the assets of DGO (which he is executive Chairman) in a friendly Merger. DGO still has some $1 mill in the bank and has a number of Gold exploration assets in the East Coast of Australia, while AXM has a producing mine in the West Coast of Australia. Ed will will make some new discoveries or extend the resource of the West Coast mine signifcantly, turn it into a profitable operation and then use the spare cash flow to prove up the resources on the East Coast exploration targets. In addition, the large resource upgrade in the West will lead to further Capital raisings being able to be made. Fresh Capital will enable new company to commence prodcution at either Canindah East (Cu/AU play) or the Drummon Basin gold mines in Qld.
All completely IMO.
AXM Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
