Looking back at "basher" comments a year or so ago.The following comments are in "my opinion only (imo) " and have no basis other that "my opinion".
Looks like some on this board were questioning the "blue sky" comments over a year ago (these were the supposed bashers who where apparently trying to reduce share price to shorters delight).
A year ago there were comments of when the next closure would happen, well for all purposes it has , now Axu is in underground inventory grading development (not extracting stockpiling, not milling or shipping).
Promoters are still here, they are as bad as bashers, but it appears that not all bashers where "shorters", in fact one can see that "bashers" just may have known more of Keno Hill than given credit for.
Now no revenue (except some residuals) and at least half a year of expenses with no net revenue. Looks like some previous board members got fed up and left but certainly talked of Axu major problems with both financials and production.
Such as the following...
1 - Price of silver
2 - Getting enough feed stock out of the ground (that issue is not silver price dependant).
3- Needs to raise capital, more flow throughs, might need WPM or managment cash injection.
4 - LoC charge is like 7% ++ . If that is excersised (imo) that's the real screwd.
Now according to Axu there is at least a half a year of fixed mining expense and managment overhead, etc.
Six months to "inventory" then extraction and milling and then spin through that in 10 months in my opionion is "blue sky".
So the questions are:
Please read the Axu statement issued
" the Company has elected to temporarily suspend milling operations for five to six months and to focus all efforts on advancing underground development. After this development period is complete, the Company anticipates accessing, cross-cutting, and having available a total of approximately 120,000 tonnes of ore inventory grading 1,050 g/t Ag at the Bermingham and Flame & Moth mines by year end 2022. Ore extraction and milling operations will be restarted in January 2023, and with our anticipated production, cash self-sufficiency should be achieved within the first quarter of 2023. The Company estimates that more than four million ounces of silver will be delivered as ore feed to the district mill in 2023.:
My interpretation (imo) of the above.
Six months of expenses to be able to have ore inventoried (not extracted, not stockpiled, not milled) and just maybe have it inventoried and still in the ground.
Restart in Jan 2023. Why. Cold weather premium.
Anticipated production and cash self-suffiency by Q1 2023, (imo open ended statement and totally "blue sky")
New investors feel free to invest (speculation is what this is), feel free to roll the hard six, but know that this is (imo) a high risk junior miner. Personally no more money untill the next six months proves itself. Is Axu a takeover target, maybe but with this level of debt.
Hardway