RE: converting the debenture I ask investors a question on this bullboard. If you think that a mine is not going to materialize, why waste your time with this stock. If you think you are going to day trade this thing you are wasting your time. With no volume on this stock at this point, are you holding out for a 2-3 cent bump everyday? I just don't get it. Here's a piece of advice. Day trade a stock like Suncor where trust me you can easily make $500-$1000 a day (assuming you know what you are doing). I've done it for years and have been quite successful.
Here is the simple story with AXI.
-FS gets delivered in July
-FS goes to China for approval
-Project gets approved and JV gets signed
-$50 million gets transferred to AXI ($10 million into JV)
XDIP funds development of RB mine.
Very simple...the fact of the matter is, we are at the mercy of the Chinese process. As much as everybody might think that XDIP runs the show, they are a state owned enterprise which means everything must get approved by the Chinese gov't. Even if they wanted to transfer $1million to AXI, it has to go through the approval process....and this takes time...lots of time. So having to finance $3.5 million does suck but if it was not done, then absolutley nothing gets done on Tuktu this year. A couple of grab samples from last year is not going to attract a potential partner...not in these markets. Hence Tuktu needs to be proven out a bit more. We could have waited until the money from Xinxing arrived but that would mean another lost season.