GREY:ADEXF - Post by User
Comment by
Greenandgold.on Oct 31, 2011 5:27pm
226 Views
Post# 19196815
RE: RE: One Explanation
RE: RE: One ExplanationIf expediting production at Roche was XinXing's first concern then wouldn't AXI have a signed JV agreement and $20 million for its feasibility study by now? The way XinXing is slowing down the JV process indicates that they are not happy with the direction AXI management is taking with the Roche Bay project.
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Do you have evidence XinXing prefers concentrate over nuggets? There's evidence that XinXing's core business of manufacturing ductile pipes involves the use of a great deal of iron nuggets or high purity pig iron.
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I find it suspicious that switch to concentrate production was announced after the XinXing private placement was closed. I also find it suspicious that it's been 15.5 months and XinXing still hasn't signed the joint venture agreement. It's obvious XinXing is very unhappy about something. Upset about what, who knows. My guess is the nuggets.
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(I don't claim the nugget process is the best option. I'm claiming that Roche Bay was sold to XinXing as a nugget operation. I believe they're an unhappy buyer right now)