I am buying down here8 Dec 2017 15:08
Time to start buying AXM here at 0.13p. Near 25% gain just to get back to the placing price. Why did they raise funds after a monumental amount of volume was going through the market a few weeks ago ? Coincidently mid November would have been the time that the company told us "It is anticipated that the initial stage of work will be completed within three months."
https://www.investegate.co.uk/alexander-mining-plc--axm-/rns/lithium-joint-venture-update/201708151345320620O/
Did people get wind of the results ?
There was around 400m shares traded within a few days.
Why did AXM raise more money when they had enough till mid 2018 anyway ?
We are now funded till end of 2018 so no placing fears which has generally held this share back. How many other companies that have multibagged on AIM already can say they won't need funding for over 12 months ? The sp is below the last placing hence a bargain ? Lots of news due including the Lithium and Accudo partnerships.
Commenting on the Placing, Martin Rosser, CEO of Alexander, said "We are delighted to have secured this investment support from TPI's clients (the "Placees") and expect that the funds raised will be adequate for covering the Company's working capital requirements for all of 2018. In addition, this is an exciting time for the mining sector, especially for technology metals and Alexander, and we look forward to significant developments on several fronts as the result of current and new initiatives for our leaching technology."
Most resource and mining stocks have bounced off their lows with some doing 1,000 - 3,000% rises.
AXM is more a less at its all time low here so I'm buying.
I remember when these used to trade around 7p.
We are in a better position now !
I think we will get updates next week. Lithium update overdue.
£2m market cap ? Really ? Should be 5-10 x that now in my opinion. We are in a resource and mining bull market and these guys can save companies millions and even billions with their technology and expertise.
I tried buying 500k, 1m and 5m shares yesterday when the offer was 0.125p and they would not deal at anything less than 0.13p hence the mark up yesterday. This looks like the bottom to me.
Riddler, you still in ?
Nai/DYOR