Venman Venman and MurrayMac provide very good analysis of the mining realities at play. It is refreshing to see such posts on this Board, particularly after enduring the continued banter of G&G.
To your point regarding the current SP, the recessions of 73/74, 81 and 89-91, each had varying impacts on different segments of the economy. In 89/91 retail and housing took a bashing in Canada. In 2008, the auto sector and manufacturing took a major hit in Canada. What we do know for sure is that we have a linked world economy and one that has an increasing presence of State Capitalism. With 80% of the Chinese economy controlled by the State, they have the financial wherewithall to ensure that their future plans become reality. That AXI has a Chinese partner is positive.
Both Venman and MurrayMac have pointed out, very clearly, that AXI has the resources in the ground and that the stock is dramatically undervalued. The world economy will improve, but very slowly. Patience is required.