RE: called IR again
I also called Judy Webster before I email George Roach
g.roach@axmininc.com
My gripe (I have owned the stock for 15 months before Mr Roach came on board) is that they are looking for $230m
in a country which is bottom 3% in the world for `Business friendly' There are ZERO mines and:
they are looking for 70% debt money which must be insured by a major international agency such as World Bank who may have priorities such as helping hold the Euro Union together and Greece Spain italy et al are probably more important to World Bank funders than CAR.......... irregardless of whether the World Bank mandate says `help emerging countries'
30% equity .... RISK.... equity money does not look for guarantees. 70% equity might work.
I think they have it backwards.
We have all heard the stories about ARAB money oil money coming into risky stocks and they are almost all BS. I have owned a Canadian explorer that was one of the first explorers to venture back into Indonesia after Bre-x. They indeed just 5 months ago received a Qatar sovereign fund investment and a new board member.
I will give the info to Mr Roach with my comments.
I spoke to Mr Dann CFO who is leaving and I have spoken to him 3-4 times previously. He is going to a mid/large producer. The timing is a coincidence that the money is not in. I asked if that producer might be able to JV with AXmin and he snickered.
The GOLD is there in CAR and they are making the payment promised to the government which will not change for 3+ years, I believe..... I think I will just hold if they do not get the money and buy more at 2 cents and wait another 3 years if necessary . It is an easy 4-8 x up if they eventually build a mine. Could be a 20 timer.
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