GREY:ADEXF - Post by User
Comment by
Greenandgold.on Feb 14, 2012 12:00pm
152 Views
Post# 19531608
RE: AXI is in great company......
RE: AXI is in great company...... All these wonderful large Chinese organizations--XinXing, CCCC, Han-Xing Mining Institute and CRIMM--have gone through a thorough due diligence process and decided to take the following action: Cut AXI's funding for the feasibility study by 75%. They promised $20 million in cash to fund the study, and they will deliver, hopefully sometime this year, a $5 million loan instead.
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Not exactly a ringing endorsement. Doesn't it speak volumes that XinXing is insisting on a loan (the debenture) as opposed to a direct investment? If XinXing doesn't like the final feasibility study they get their money back.