I'm not sure about those other units - was there a share consolidation in the mix somewhere.
I'm still trying to work out what all the noise over SIR's 3 drill holes is all about - Doesn't look like anything special imo, but who knows, maybe whispers in the lab?
The question is, who's being bent over - AXM holders, or both AXM and SIR holders? Probably both imo, but that's the problem with an 'unregulated' market. Finding a speculative Oz explorer that's not dodgy is like looking for a needle in a haystack...
The AXM 2011 Annual Report appears to show no cash was received by Creasy for those 600m SIR options...
On 5 August 2010 the Company sold its holding of 600,000,000 options in Sirius Resources Ltd for $450,000 to Yandal Investments Pty Ltd. The consideration that was received for the Sirius options was offset against the guarantee fees owed by the Company under the current Guarantee Arrangement for rehabilitation bonds with the Creasy Group. On 18 February 2011, $2,094,000 was released following the sale of the Gidgee Project. The balance of $1,489,000 was released on 23 March 2011 when the Rights Issue was completed.
AXM Price at posting:
10.7¢ Sentiment: None Disclosure: Not Held