RE: RE: RE: Important info That's right, AXI's resource is very small. Just about every iron ore junior in Canada is going to prove up at least 1 billion tonnes at around 30% iron (and many of them will be multi-billion tonne resources). 1 billion tonnes x 30% = 300 million tonnes of contained iron. Drills turning in the Labrador Trough all winter and into the spring and summer.
Compare to AXI's 501 million tonnes at 26.35% iron = 132 million tonnes of contained iron. I understand that these numbers have the potential to improve, but that requires a lot more drilling. AXI won't drill a meter drilled in 2012 because they are dead broke, regardless of whether the $5 million debenture comes through or not.
Why should an institutional investor put money into AXI's project, with its meager numbers, when just about every project in the Lab Trough is going to have more contained iron? ADI just got $90 million in Chinese cash, ADV just closed a $40 million strategic investment, NML has broken ground on its DSO project, Champion's going to prove up over 2 billion tonnes, Century just closed $100 million in Chinese cash, Capex is coming out with amazing drill results. All of these companies have significant cash and are turning a lot of drills in 2012.
Choose any of them over AXI, the lamest horse in the race.