I lurk here occassionally - if only in amazement that AXM is still trading. I don't really care if all past and present management of AXM have been happy to take their salaries and sell a "blue sky" story to raise more money to keep the show on the road. What amazes me is how long this debacle has gone on for -ASX listed companies should have audited accounts. Are they putting aside money for future tailings dams/ development? Are they are a going concern? If they can't pay their auditors, should ASX be asking questions? When if ever will ASX say - enough's enough, you guys lose money every year, are late in your reports and we are going to delist you. -There is a mines department in WA which is supposed to regulate mines. Have they been up there and looked at the site for a while? Given the importance of mining in WA, shouldn't each site be visited by mines safety, dangerous goods, tailings, environment people, at least every year and a public or shareholder report made? -There seems to be a culture at Wiluna of "everything was done wrong in the past lets raise some more money and keep going". This has been going on for x years. Its supposed to be a "Gold Mine" i.e. cash positive. If its not and has no prospect of becoming so, do the decent thing and close it down or 2nd best, sell it which they seem to be trying to do. I think its a shame that no professional on site has been able to say "shut the thing down" instead its been a revolving door of management and investors leaving a lot of blood on the floor.
AXM Price at posting:
3.3¢ Sentiment: None Disclosure: Held