Good News this morning Good News this morning, getting the $5 million first from XXP tells me a few things. it tells me you have to now think the final DFS will be more good than bad. It also tells me you have to think XXP wants more shares of AXI at 45 cents. The 45 cent price tag shows me a sign of total respect from XXP to Fullon Steel who just happened to buy in at 45 cents when XXP picked up it share position at 25 cents. The 200 day moving average for the stock is 37 cents and the 50 day is 27 cents. Willing to pay 45 cents is a sign of confidence from XXP of positive things to come. Looks like there is more of a deal here than not. I think under 40 cents this stock is a total buy but always do your own homework to see what you come up with. Happy trading !!
2012-03-02 06:26 ET - News Release
Mr. John Gingerich reports
ADVANCED EXPLORATIONS INC. ANNOUNCES RECEIPT OF $5,000,000 CONVERTIBLE DEBENTURE FINANCING
Advanced Explorations Inc. has taken receipt of $5-million from its strategic partner XinXing Ductile Iron Pipes Co. Ltd. as part of its convertible debenture financing (as press released Oct. 31, 2011, and Jan. 10, 2012). The 24-month debenture is interest free to AEI and is convertible by XDIP at a minimum price of 45 cents per share. The closing of the financing remains subject to acceptance by the TSX Venture Exchange.
John Gingerich, president and chief executive officer, commented: "We are very pleased with the diligent efforts of our partner to work through the approval process in China and bringing this financing to a close. Our focus remains on completing the feasibility study for our Roche Bay project and to move this asset forward to production."
In addition, the company will present at the Canada-China investment forum, organized by Natural Resources Canada in conjunction with the Canadian embassy in Beijing and the Ministry of Land and Resources of the People's Republic of China, on Tuesday, March 6, 2012, at the Hyatt Regency Hotel in Toronto.
The company will also be exhibiting at the upcoming Prospectors and Developers Association of Canada convention in Toronto from March 4, 2012, to March 7, 2012. Those in attendance can meet with AEI representatives at booth No. 3342.
We seek Safe Harbor.