GREY:ADEXF - Post by User
Comment by
HVAN1on Oct 25, 2012 2:16pm
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Post# 20524134
RE: RE: Really Funny
RE: RE: Really Funny ADV's stock price doesn't affect the development of their mine. Do you know why? Because they've got $50 million in the bank, and another $120 million coming from Hebei after the feasibility study results are announced. They don't need to raise money.
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Facts: AXI was dead broke in June. They raised $2.6 million since then. They ran a drilling program at Tuktu 2, thus most of that $2.6 million is gone.
And it's not like they can hunker down and wait for the iron ore market to pick up. $275K due to Roche Bay plc in December. $440K in annual office rent. Nearly $800K in salaries. AXI's burn rate is extravagant even if they don't run an exploration program.
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Conclusion: AXI is going to have to issue shares AGAIN this year. This time at 10 to 15 cents.