Speeding ticket would be for SP increase on no news...
Buy at 10c level is a no brainer... must remember that the SP only got below 10c (8mill MC) because of constant delays and doubt about Xstrata's commitment. Now that we have a drill read to go we should see 10mill EV + in the short term (16c MC +) just based on previous drill results, size of the inferred resource in the 3D survey and the amount of cash Xstrata is willing to throw at this.
Market conditions at the moment might be the biggest barrier to a big short term SP increase but in my view I see this as a favourable thing...
short term run to 16-20c will tempt a lot of us into selling, pushing the price back to 10c whereas a gradual increase in SP will make this run a lot harder throughout drilling and results...
AXT Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
