My motivation for posting: being right. When AXI was trading above at 40 and 50 cents not too long ago it looked to me like it was worth much, much less. Marginal project in a horrific exploration district with chatty but ineffective management. Now that AXI's at 12 cents heading to a penny rapidly, it's fascinating to watch.
Don't believe that AXI can hunker down, run lean and survive for a few years. All of this will end soon. There's a $1 million royalty payment due to Roche Bay plc this year. If that doesn't get paid then Roche Bay plc takes over as operator of the property.
The $10 million AXI owes to XinXing in debentures also complicates the situation. Bankruptcy is a likelyhood if XinXing doesn't convert its debentures to shares.