Advanced Explorations Inc. ADEXF

RE: RE: RE: New presentation

[Greenandgold.]

The stupidest thing in the new presentation is the discussion of "leveraging" an early start-up production from the A/B zone of Roche Bay. AXI has had the property for 5 years, and they haven't drilled a meter in the A/B zone. Not one meter. And they want to talk about a "direct ship type product" from that zone. Beyond absurd.
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The second stupidest idea is this ice road trucking from Tuktu. Does any iron ore company on the planet currently use ice road trucking? Of course not. Regular trucks are not an option, even, if there's any considerable amount of distance to cover because of the expense involved. 70 km from Tuktu to Roche Bay is a considerable distance. Where did AXI management get this idea? They cribbed it from Baffinland, which studied the idea of trucking its ore to port, then rejected that idea.
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The third stupidest thing in the presentation is the statement: "Year round shipping is possible" with no further explanation. Sure, Baffinland/Arcelor also think year-round shipping from Foxe Basin is possible, too, but only with the fleet of massive ice-breaking 200,000 tonnes ore carriers that they're planning to build (a class of ship that currently doesn't exist) and which will cost billions.
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These kinds of issues are exactly why XinXing hasn't closed the JV deal after 15.5 months. They are discovering, during their independent due diligence, the massive technical issues AXI glossed over during initial negotiations. AXI management has a remarkable capacity for spinning nonsense, which will draw in investor interest, but won't hold up under scrutiny. Hence, they never close the big deal.