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MRD - Mount Ridley Mines

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AXC


Mkt Structure


Shares

60m + 45m 20c 30/6/08 Options

Mkt Cap @ 15c = $9m
Mkt Cap @ 30c = $31m (Includes $9m worth of options)
Mkt Cap @ 45c = $47m (Includes $9m worth of options)



Cash

$2m + $800k over this year from the royalty of gold production as well as $9m from opies


Projects


Gum Well
Uranium, 100%, W.A.

To the West of Lake Raeside/ Peninsula Deposit (Inferred JORC 7Mt@0.035% U)
Previous exploration yielded assays of 0.01%-0.02% U as well as 0.05%-0.16% U


Other
Uranium 100%, W.A.
Some other very early stage licences


Summary

I took a small punt primarily because the Gum Well licence is ready to begin drilling, it is to the west of a substantial Uranium deposit and previous work has shown the Uranium channel continues into Gum Well,
Due Dilligence should be finished very shortly, after which I expect immediate work to start

Very very high risk spec play
 
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Re: AXC - AXG Mining

Ann it has just completed the acquisition of the Uranium projects, work is about to commence at Gum Well which as I have stated is just to the West of Lake Raeside/ Peninsula Deposit (Inferred JORC 7Mt@0.035% U)
Previous exploration yielded assays of 0.01%-0.02% U as well as 0.05%-0.16% U

With a mkt cap still under $9m and $2m in cash this offers plenty of spec upside should there work uncover anything
 
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Re: AXC - AXG Mining

YT iv got oppies are being 31-08-2010 expiry??

20c oppies would be great exposure, i expected them to be priced closer to 1c though considering the heads are at 13.5c. 5c is a bit steep IMO.. :2twocents
 
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Re: AXC - AXG Mining

This has been steadily on the increase over the last couple of weeks and has also managed a reasonable gain today(10% but not very high volume)Might be keeping an eye on as it should have some results due soon,maybe news leaking on this front
 
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Re: AXC - AXG Mining

Another good day so far for this-currently up 12% but on volume of 9million as opposed to ususal daily of up to 900k,results coming YT?Needs to break 20c to overcome short term previous high then its blue sky till 35c which was back in December 05.Only 350k available on the sell side
 
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Re: AXC - AXG Mining

Another good day so far for this-currently up 12% but on volume of 9million as opposed to ususal daily of up to 900k,results coming YT?Needs to break 20c to overcome short term previous high then its blue sky till 35c which was back in December 05.Only 350k available on the sell side
9m was an off market cross trade at 15c, so if you take that out its done 130k which is just above usual volumes,

This is a small spec holding for me, I don't really pay too much attention to it, will wait till next year or the year after to see what happens :)
 
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Re: AXC - AXG Mining

Doing very well, has broken up through 20c, I'm taking some profits though as being a W.A. U stock there is still risk

Anyone else riding this?

Alan, what are you doing?
 
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Re: AXC - AXG Mining

YT still in it-quite a decent rise today and over the last few days/weeks.Also sell side looks positively anorexic!Surely some results must be on the way by now
 
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Re: AXC - AXG Mining

no one want to sell according to the depth.
the only seller is 20,777@0.350:(
maybe big big positive new is coming
 
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Re: AXC - AXG Mining

Another up day at the moment-up 10% but has been as high as up 4c,options are up another 2c or 20%.Roughly the same amount of options bought as heads-is this normal.Currently about to break out above a 2 year high.Worth watching
 
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Re: AXC - AXG Mining

Recently recovered quite nicely :)

up up and away!

any one following.. are we looking at an potential breakout?
 

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On December 5th, 2014, AXG Mining Limited (AXC) changed its name and ASX code to Mount Ridley Mines Limited (MRD).
 
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