i think its hard not to think that in he initial stages AXT got to 70 cents because of the MOX drilling. There was a phase there where there was a lot of press about olympic dam exploration companies.
GUN, CRJ, AXT, MOX, just to name a few, have all tried to promote to some extent the nearolgy....
Not one of these companies have made a significant finding yet.
Not to say they will not, but to attract investor interest thats the strategy most of used.. It is the same with Pilbara Iron ore projects. It's very easy to get investor confidence if your close to something significant.
Flinders Mines is probably a prime example.
AXT now has a really low market cap. There hasnt been news for 2 months, but we know they have been drilling. What we don't know is what happens if the drilling is not a success. Most investors bought in for the Intercept hill play, and the potential of an olympic dam type discovery.
I don't think there is an issue saying we are close to the olympic dam here, because we are. It makes sense to dig in areas close to discoveries. AS long as as investors realise that you can't just drill one hole and expect a mine.
There needs to be an entire system.
What makes AXT have such a good reward is that most people aren't willing to back a company digging 1000 metres to find copper, as it is a high cost operation.
Thats the nature of what AXT is chasing.
This is not a close to the surface resource....
which would mean the scale of a potential mine would be huge, if successful.
AXT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
