I told you the XinXing joint venture deal was seriously delayed. All of you dummies believed management's lies about the deal being imminent (invoicing XinXing for the costs of the feasibility study, "finalizing" JV agreement etc). You were wrong. I was right.
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I'm telling you now the feasibility study won't be delivered until Q4 at the earliest. It's supposed to be a definitive feasibility study that requires extensive geotechnical drilling, pit design, and engineering studies. The March 2, 2012 technical report just announced the $20 million program (including at least 7 pit dilineation holes) that have to be completed to support the feasibility study in 2012. Those holes will be drilled this summer, if they have the cash. Even with the debenture nearly closed, AXI has nowhere near $20 million.
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AXI management won't deliver the feasibility study at the end of the month. That's a guarantee. You can stick your heads in the mud and try to ignore reality, but I'll be proven correct. Again, I'll bet you any amount of money you like that they won't deliver the study by the end of the month. No takers? We can donate the winnings to charity.