1. yep, and there are more than enough gold companies making...

1. yep, and there are more than enough gold companies making positive progress with upward trending charts to make good money

2 & 3. so what? the resource could be 1b+ oz, doesn't matter if you can't get it out of the ground and processed for a profit.. what are the reserves and does the production track record support the reserve status?

4. opportunities will always be present, more important is the liklihood of success

5. those significant backers are also sitting on significant losses - no one has a 100% investment record

6. the CEO has been on good money for a number of years now.. would think that, in light of performance and current circumstances, a slight haircut might be in order? why doesn't he pay himself in shares as a show of confidence? small cap mining companies (which is what AXM now is) where the CEO / MD draws a small token salary and has a large equity interest are far more appealing than those who try to set themselves up at big players too soon

7. and they can also lose the lot

8. agree, because of point 7

9. that kind of exploration budget would have barely scratched the surface

10. unfortunately at the cost of considerable dilution?

10.1. more fun and better odds at your local gaming floor?