Guarantees and Predictions As guaranteed, AXI management could not deliver a definitive feasibility study in Q1.
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As predicted, AXI management's spin would be an expanded production scenerio requiring additional feasibility study work. (If this excuse were true, couldn't they have had this bright idea 6 months ago?).
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The real reason for the feasibility study delay: lack of cash and time. They need the summer field season at Roche Bay to do geotechnical drilling, pit design and other necessary work (revealed in the 43-101 report released in early March). Even with the $5 million infusion, they probably need to raise some cash for these summer operations.
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A new guarantee: the feasibility study will not be delivered in Q2. Look for it in Q4, if they can raise the cash.