# AXM - Apex Minerals



## LPA (16 May 2006)

What do people think about this company?

They recently had another float in April - quickly went from 7c to over 40c then back down to around 30c where it is resting now.  It isn't too largely traded but seems to be an alright long term speculative stock...


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## LPA (2 June 2006)

Nobody else has this stock on their radar?  It has recently risen from 28c to 34c today, even with the declining price of gold....maybe some people know something we don't?

Their management team looks great on paper, and in my opinion good management is 80% of the score 

It looks like this one may be, as I said above, a great way to speculate on small up coming exploration companies.  They have solid leadership and at the moment a nice proven base of 28c for their share price...opinions?


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## danc (19 August 2006)

I just bought it and have an order in to buy again at .255,i like the chart day and week and i reads well on web site.


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## danc (31 August 2006)

Now holding a good sized parcel at an av of .31,day and week and month look good too me.management look to be well connected to other mining houses like kzl which i hold.


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## Ruprect (4 May 2007)

Anyone watching Apex? Jumped 6.5cents yesterday after coming out of a halt, announcing a purchase of 3 gold projects with the aim of producing 300,000 ounces a year within 3 years.

Sellers are on the thin side, with close to 4 million shares traded yesterday. 

Def one to watch over the coming days, this could jump very quickly IMO.

_From Todays Sydney Morning Herald_

*Apex grabs gold projects for $28m*

THE team that successfully built LionOre Mining and Kagara Zinc into $1 billion-plus companies has revealed plans to create a mid-tier West Australian gold producer.

Apex Minerals, led by former LionOre Australia boss Mark Ashley, will purchase three gold projects for $28 million. The company aims to produce about 300,000 ounces a year within three years, placing it in a similar league with rising WA gold houses St Barbara Mines and Monarch Gold.

Apex said it was able to pick up the three projects relatively cheaply since the deposits contain refractory ores, which can be more difficult to treat. Its strategy is to mine high-grade deposits in the Eastern Goldfields region and truck the ore to a central processing facility.

The Youanmi mine it has purchased from Canadian-listed Goldcrest Resources for $10 million was closed in 1997 because it was no longer economic. But Mr Ashley noted the owners were putting only 150,000 tonnes of ore a year through a plant with a 600,000 tonne capacity.

Apex's plan is to truck the ore to the Gidgee Gold project it is purchasing from Legend Mining for $11 million in order to keep a plant running at capacity and cut down on fixed costs.

Apex hopes to produce 130,000 ounces a year from Youanmi and Gidgee combined within two years.

The third project Apex purchased was Barrick Gold's Aphrodite deposit, which cost $7 million. Apex plans to start production of 150,000 ounces or so within three years. It would need to build a flotation plant to turn the ore into concentrate on site so it could be trucked to Gidgee for final processing.

Apex is also believed to be interested in LionOre's nearby Thunderbox goldmine, which is for sale. Thunderbox was discovered by Apex director Mark Bennett.

Apex plans to raise an unspecified amount of funds within three months to complete the deals, which require $10 million in cash and $18 million of shares.

Apex shares closed 6.5c higher at 41.5c.


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## LPA (4 May 2007)

I've been holding this one for over a year now, so I finally can ride the wave and find a good place to jump off with all the CGT benefits 

Nice to see it finally gain some momentum, I always thought it had great fundamentals as far as management were concerned...


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## Rob_ee (25 May 2007)

Ruprect said:


> Anyone watching Apex? Jumped 6.5cents yesterday after coming out of a halt, announcing a purchase of 3 gold projects with the aim of producing 300,000 ounces a year within 3 years.
> 
> Sellers are on the thin side, with close to 4 million shares traded yesterday.
> 
> ...


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## Rob_ee (12 June 2007)

Well ... it looks like LPA and I are the only ones interested in this one.

*For 7 consecutive days *it has made Higher Lows AND Higher Highs, quietly on reasonably good volume (considering practically no one is selling) of average over 500,000 per day which is quite liquid.

Sure beats the manipulated penny dreadfuls that go up 25% in 1 day and the same amount down the next

MAYBE this will be my 1st long term hold ?
Pyramided into this again today.

Rob


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## Rob_ee (20 June 2007)

Guess I got VERY lucky with this one ... for days the insiders who knew have been buying up big almost doubling the price in a very short time.

As stated I bought this on a MS signal at 58c and it has been making continual higher highs ON NO NEWS.

Toady ASX issues a please explain for the big rise on no news to the market.

Stock goes into trading halt for a few hours till company can find a reason for the jump.

Apparently an acquisition from OXR .

You need luck in this game BUT especially timely news

Rob


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## Freeballinginawetsuit (6 February 2008)

Just noticed this thread on Apex. I too have been a holder since the middle of last year, only a minor parcel, but it is definitely one in the long term portfolio

For those who have missed this little gem, they are definately worth a look..........led by the lads from KZL 

http://www.apexminerals.com/


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## Big Bad Sammus (6 February 2008)

Freeballinginawetsuit said:


> Just noticed this thread on Apex. I too have been a holder since the middle of last year, only a minor parcel, but it is definitely one in the long term portfolio
> 
> For those who have missed this little gem, they are definately worth a look..........led by the lads from KZL
> 
> http://www.apexminerals.com/




What's the little 'gem' that you're referring to exactly?

I bought a substantial amount @ $1.09 and it hasn't broken through that yet... wondering if they will get anywhere near their high of $1.43?


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## Freeballinginawetsuit (7 February 2008)

Big Bad Sammus said:


> What's the little 'gem' that you're referring to exactly?
> 
> I bought a substantial amount @ $1.09 and it hasn't broken through that yet... wondering if they will get anywhere near their high of $1.43?




For a little wannabe Company AXM has got plenty going for it.

Obviously youre entry is a recent one and plenty of punters are sitting on a lot lower entries than you!.Considering the current market conditions AXM has held up quite well. 

If your concerned with youre entry, well cut out............AXM's SP is still frothy so may be best you beat others to the punch


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## Firdy (11 March 2008)

I have a few medium and junior cap gold stock investments, including Oceania (solid), Bendigo Gold (BDG) (a Dog), where everyone famously got burnt, and Greater Bendigo Gold (GBM), which is looking great.

With this experience I have looked at Apex, and decided, at this stage, that there are better prospects.  Can anyone correct me if the following is wrong:

- cash at september 07 - $ 40 million
- cash at december 07 - $ 10 million
- production due - November 08 (always subject to delay)

- Market Cap $324 million
- JORC resource 2.5 million ounces.

So where is the cash go complete through to November going to come from?

If we are not diluted with a new issue, then at the current share price (0.94 when I looked), and taking a ratio of Market Cap/Resource in ($/oz) I would be buying an ounce of Gold Resource for $ 129.00.  

There are better deals than this around!


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## jman2007 (21 March 2008)

Firdy said:


> So where is the cash go complete through to November going to come from?




Well it looks like AXM answered your question today, release stated *"Apex announces placement to raise $62M".*

Imo, this is not looking too bad really.  There was probably never any question that further dilution would not be required to fund mill reburbishment and their aggressive exploration strategy. In the current market climate, the issue of these shares, almost at the current market trading price is a significant achievment, when considering other companies are being forced to issue new shares at a heavily discounted rate.

Goldman Sachs analysis also indicates that AXM compares favouraly in terms of value compared to other industry peers, and while in the short-term may look expensive, this should be offset once full production is achieved in FY2010.

Considering the advanced stage of much of their exploration, ie a lot of reource and infill drilling, there should be a good conversion factor of much of their inferred ounces to measured and indicated during the year, and many of the ore bodies remain open at depth and down plunge.

It will be interesting to see how AXM manages the mining schedule around Wiluna, when historically, many of these deposits were mined as stand-alone operations and were never economic to seriously remain viable over the long-term.

My one main issue is the haulage costs involved in transporting ore from Youanmi and Wilsons, I would consider possibly between 1.5-2.0g/t value from the head-grade would need to be subtracted for Youanmi haluage costs.  I'm unsure if the BIOX process has been successfully maintained for an operation of this scale in Australia before, but the technology is interesting although I'm certainly no expert.  For refractory ore of the type APEX will be processing there are only two choices; putting the ore through a roaster, or a more environmentally bio-leaching process.  

Anyway, AXM certainly looks like an interesting opportunity and certainly not one to be scoffed at.

jman


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## Miner (1 June 2008)

Well
AXM share last traded at 78 cents. THe offer is for 82 cents
They are looking for a bunch of new people GM, Met Manager, Minnig Manager and Maint Supdt - a whole contingent of people normally require for a new operations
Is it possible that they are starting or acquiring something new. 

I do not hold this share nor suggesting any speculation here

I am just trying to correleate some obvious phenomenon which relate to company future plans

Cheers


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## Rob_ee (5 November 2008)

Firdy said:


> I have a few medium and junior cap gold stock investments, including Oceania (solid), Bendigo Gold (BDG) (a Dog), where everyone famously got burnt, and Greater Bendigo Gold (GBM), which is looking great.
> 
> With this experience I have looked at Apex, and decided, at this stage, that there are better prospects.  Can anyone correct me if the following is wrong:
> 
> ...




So what dou you think now ?

This has to be the most ignored stock on this forum.
Not 1 single post in the past 6 months.

And what do we have today, 1st gold pour imminent to come within days.
Production costs of $ 550 per oz
Profit margin $ 600 per oz
Monthly production (to start) about 15000 oz per month (YES per month)
Profit pre tax of around 8 mil per MONTH
Fully funded
Promising reserves
Future drilling prospects lookin good.

I 1st posted on this stock a year ago where I congratulated myself for being able to buy in at 58c.
Sadly got greedy and sold below $1 only to see it go to a high of $ 1.40

I had forgotten all about AXM till I started re-visiting some of my earlier trades looking for bargains.

When I saw 23 cents I Literally fell out of my chair.

Gees I thought, perhaps a mine flood, or they lost their funding , or costs to high ...only to find the above is the current status.

Funny isn't it, They were $ 1.40 when they had no funding, less reserves, gold pour still over 1 year away, now with production to start 23c was offered.

Needless to say I am back in with substantial quantities.

Rob


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## Who Dares Wins (7 May 2009)

Does anyone know why this company seems to keep slipping under the radar?

A good announcement a few days ago which has brought the price up from 20cents to 26.5 cents but its still languishing way back compared to where I thought it would have been by now given that its producing gold.   


Targeted commercial gold production achieved in April at 10,000 ounces
Plant throughput rate of approximately 850,000 tonnes per annum (above target)
Underground ore production 50% higher than previous month to over 40,000 tonnes with a grade increase of 15%
Gold poured was 9,500 ounces (14% increase from March)

I see also a buy recommendation from Eagle Research with target price of 61cents and another spec buy from Argonaut Securities. With production like this surely the price must come up?

WDW


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## johannlo (9 June 2009)

I'm tracking this too. They hit production targets again for May and apparently (read on hotcopper) cash costs will be revealed in July so that's when the big bounce should happen (if it happens lol).


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## 4fundamentals (12 June 2009)

I have been following this stock for a while now,

I'm deffinately a beginner, but from what I can tell, I really believe this stock has some potential.

From a fundamental basis:-

I calculated based on 2008 Annual Figures: Net Total Assets per share of $0.238.

Technical Basis, 

I am seeing a weak support at .195. 

Anyway, I am very small time and entered the market today at $.205 for 16,500 shares. 

This is me view, and by all means, more information the better!

Regards,

Boh


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## jman2007 (13 June 2009)

4fundamentals said:


> I have been following this stock for a while now, I'm deffinately a beginner, but from what I can tell, I really believe this stock has some potential. From a fundamental basis:-
> 
> I calculated based on 2008 Annual Figures: Net Total Assets per share of $0.238. Technical Basis, I am seeing a weak support at .195.
> 
> ...




Boh, there are people around who would invest a lot less than yourself on the market and still do very well for themselves. I guess it's all relative, some people might be delighted and satisfied with making $500 after 6 months, some of my first punts were only $1500-2000.

I remember having a look at these guys ages ago actually, but I have never held a position. The current chart suggests that they seem to be struggling for credibility in the market for reasons I can't fully explain, as I don't recall them releasing any terribly bad news recently 

The last Quarterly provided some useful insights, ROM stockpiles building up nicely and head grade increasing towards the end of last month as they begin accessing the higher grade ore blocks in the Calais zone. No word on operating costs though, which I always find a little unnerving. Lets hope they don't go the same way as SBM, and have their underground costs blow out towards A$1,000/oz.

A bit of a wait and see play for me I have to say.


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## 4fundamentals (13 June 2009)

Thanks for your insight Jmann.

I think the credibility argument is probably pretty sound at the moment,

I don't really agree with what they are doing with Mark Creasy, I would rather have Nickel assets within Apex, than Croesus Mining CRS,

Particulary recieving 67 Million shares.....hmm curious to see how this all pans out. 

However, I have always been a long term player.  My trading Time line is about 3-6 months.  

My thought process on this stock is I thought there was little downside risk (I may be wrong). 

I am no where near good enough to make a trade a week.


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## Agentm (10 July 2009)

cash costs came in today..

ASX/MEDIA ANNOUNCEMENT 10 July 2009
Apex hits production target for June quarter
• Wiluna’s steady performance confirmed with production reaching target
of 29,000 ounces in June quarter
• Plant throughput averages an annualised rate of 930,000 tonnes in June
(10% higher than initially forecast) and 880,000 tonnes for the June
quarter (5% higher than initially forecast)
• Cash costs expected to be A$750/oz while production stands at the
current annual rate of 120,000 ounces. Costs expected to fall on the back
of any increase in production.
• First ore drive in Henry 5 North nears completion and second access into
Henry 5 North intersects ore as planned.

this was an article earlier this month on apex


Apex Minerals

Just as one swallow does not make a summer, two months of meeting gold production targets does not make for a sharemarket re-rating.

But for Mark Ashley's Apex Minerals (AXM), summer is at least closer than it was after its Wiluna gold operation in Western Australia hit its annualised production target of 120,000 ounces last month with output of 10,000 ounces.

So that's two months on the scoreboard, a welcome improvement from the March quarter when high-grade feed from underground operations fell short of plan.

The slower than expected ramp up in production prompted a $28 million capital raising - $14 million from a share placement and the rest from an underwritten rights issue.

Modified drilling and blasting techniques have since overcome the March quarter production issues, allowing Wiluna to hit its straps. Not that you would know that from Apex's share price performance. It seems the market is holding back on re-rating the stock until Apex makes public its guidance on costs, expected early next month, and until it has a couple of quarters of steady-state production at the annual rate of 120,000 ounces under its belt.

Those prepared to back Ashley and the rest of the Apex team to get Wiluna humming may be well rewarded. The shares closed flat, at 20c, on Friday.

Goldman Sachs JB Were was one of those saying Apex would need to maintain the 120,000 ounce annualised gold production rate for at least two quarters before the market started to re-rate the stock and "believe its production profile and hence it long-term value".

It values the stock at 52c, but its 12-month price target is 40c, still double the current share price. Intersuisse rates the stock as a speculative buy without setting a price target.

There is now nothing in Apex's share price for its 27 per cent stake (fully diluted) in Croesus Mines, the former Norseman gold producer reworked as a WA nickel explorer with an impressive land bank.

bfitzgerald@theage.com.au




i have been watching this one a while also..  lets hope the market accepts the story is indeed genuine and as barry said, ther is nothing in the sp for croesus


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## 4fundamentals (1 September 2009)

Well.

I feel like the HUGEST Idiot .  I bought in with $3,000 back when AXM was $0.20.

I valued the stock atleast close to their Net Total Asset per share of $0.24.

Wondering if it is worth holding onto this stock? or to sell out and cut losses?

What is other investors opinions on this stock?.....

IDIOT! 

Cheers


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## Cink (2 September 2009)

4fundamentals said:


> Well.
> 
> I feel like the HUGEST Idiot .  I bought in with $3,000 back when AXM was $0.20.
> 
> ...




Managed to get some @ 0.082. IMO, if you don't need the cashflow. hold on to them.


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## oldblue (2 September 2009)

But why would you want to try to catch this particular falling knife?

Don't you find AXM's SP downtrend scarily dangerous?

Plenty of time to buy when the trend reverses, IMO. Will miss the bottom but that may be a small price to pay.


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## Who Dares Wins (2 September 2009)

oldblue said:


> But why would you want to try to catch this particular falling knife?
> 
> Don't you find AXM's SP downtrend scarily dangerous?
> 
> Plenty of time to buy when the trend reverses, IMO. Will miss the bottom but that may be a small price to pay.




I like it 3 times as much at 8c as I did at 24c but agree that is one helluva downtrend. I'm watching closely but doing the same as you Oldblue. 

Hell, was I lucky! Was so close to buying it in the 20c-24c range.


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## oldblue (3 September 2009)

Here's the latest on AXM.

http://au.news.yahoo.com/thewest/business/a/-/wa/5908116/apex-boss-defends-troubled-gold-mine/

May have missed the bottom at 8.1c but I'm happy to wait for a bit more strength in the SP.


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## Cink (3 September 2009)

oldblue said:


> Here's the latest on AXM.
> 
> http://au.news.yahoo.com/thewest/business/a/-/wa/5908116/apex-boss-defends-troubled-gold-mine/
> 
> May have missed the bottom at 8.1c but I'm happy to wait for a bit more strength in the SP.





Whats your optimal price to buy in if you don't mind sharing ???  

I am never able to gauge such stuff.


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## Sean K (3 September 2009)

Cink said:


> Whats your optimal price to buy in if you don't mind sharing ???
> 
> I am never able to gauge such stuff.



Cink, I think you need to first ask yourself why buy the stock at all.

Why would you want to buy it?

Fundamental long term buy and hold?
Short term trading opportunity?
etc

Then you can drill down into your own buy price.


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## oldblue (3 September 2009)

Cink said:


> Whats your optimal price to buy in if you don't mind sharing ???
> 
> I am never able to gauge such stuff.




I'd be looking to buy as a medium to long term hold in the expectation (hope?) that they have sorted out their problems. But I'd monitor it pretty hard with a fairly tight stop loss and would be prepared to take a small loss to quit it if necessary.
So it's not really a case of an optimal price to buy in but more that of seeing the downtrend reversed and an uptrend established.


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## Cink (3 September 2009)

I guess i got in @ 0.082 as a short-term trading opp (already set a price which i am willing to sell)  but willing to wait for til medium term to see out any results.


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## seen (18 September 2009)

as AXM closed at 10c today, i was curious to know what your sell trigger was set at?

I have just heard some information and tips on AXM and recently got in.. hoping to see some action within the next month.


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## Who Dares Wins (19 September 2009)

seen said:


> as AXM closed at 10c today, i was curious to know what your sell trigger was set at?
> 
> I have just heard some information and tips on AXM and recently got in.. hoping to see some action within the next month.





Well why don't you tell us what you heard then maybe others will get in.

I heard things too that made me not get in......not till afterwards anyway.


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## ands (19 September 2009)

seen said:


> as AXM closed at 10c today, i was curious to know what your sell trigger was set at?
> 
> I have just heard some information and tips on AXM and recently got in.. hoping to see some action within the next month.




I don't think there would be a much bigger risk than this stock out there atm. 10c won't be cheap if this goes down to 0c. I would be waiting for some good news followed by plenty of upwards movement before jumping into this. Look at MON for an example of gold gone wrong. They are always optimistic till they appoint the administrators.


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## jman2007 (19 September 2009)

Guys, there is a very high level of risk involved with this stock imho. the Wiluna field has a history of being a bit of a company breaker, although none have actually been punished with admin through their decision making as far as I know, several have walked away rather battered.

Most of the recent discoveries have been on the small side, and although there are a multitude of existing open pits, it seems unlikely that they could be morphed into a 'Wiluna Superpit' in the future. The Biox process adds a further level of complexity, I'm sure at least one previous operator at Wiluna managed to completely cook the bugs.


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## Miner (19 September 2009)

jman2007 said:


> Guys, there is a very high level of risk involved with this stock imho. the Wiluna field has a history of being a bit of a company breaker, although none have actually been punished with admin through their decision making as far as I know, several have walked away rather battered.
> 
> Most of the recent discoveries have been on the small side, and although there are a multitude of existing open pits, it seems unlikely that they could be morphed into a 'Wiluna Superpit' in the future. The Biox process adds a further level of complexity, I'm sure at least one previous operator at Wiluna managed to completely cook the bugs.




Jman 2007- welcome back. I think you have been on the back stage for last few weeks or I missed your postings. 

Apex Minerals had a fund raising not very long ago. Mark Ashley is a very capable  manager and person. He got support from an able GM Operations Rod P and his team. Total Team is very good. 

I have visited the plant recently and my Miner eyes told the operation has good infrastructure but needs more lives and cash. Even the phone at the entry does not work. There is some what  gloomy  sign throughout the plant. The Wiluna Town is total dead. You would not get even a coffee at 3 PM. The local pub is inhibited by First Australians and I did not dare to stop my car to have a drink. This is probably some shadow effect from the low pit life  and minimum investment poured at the town. 

Future pit life is not good. I believe unless they go for heavy exploration then the mine life is only two years.

The pit design is however much better than many pits I have seen. So there is huge potential - but they need more money. 

It could guess that to support the exploration with higher gold value Apex will be tempted for either more debt or issue of equity. This is my merely superficial guess and more research are required. 

Please do your own research and let me know from others about AXM.

I do not hold


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## Miner (24 September 2009)

Miner said:


> Jman 2007- welcome back. I think you have been on the back stage for last few weeks or I missed your postings.
> 
> Apex Minerals had a fund raising not very long ago. Mark Ashley is a very capable  manager and person. He got support from an able GM Operations Rod P and his team. Total Team is very good.
> 
> ...




The above was posted on 19th Sept 09.

Today's market announcement is about massive rights issue. See attached. 

I never thought that such a random guess would be true. 

I wished if I could randomly picked the right  six lotto numbers


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## jeffTH (24 September 2009)

Miner said:


> The above was posted on 19th Sept 09.
> 
> Today's market announcement is about massive rights issue. See attached.
> 
> ...




Hello Miner

I was very pleased to see the above post under AXM in view of the present circumstances.  There is much discussion about the heavy dilutory impact of a rights issue of such magnitude and at what price.

My concern is not so much the price or the dilution but if the company gets its $50k and no debt -
   (a)  Is their aim to get multiple sites feeding the mill a reasonable prospect?
   (b) Is the present management up to the task?
   (c) Will they have enough money to get to production of 140k oz/year?

These questions are not being asked and as I see you as 'our man on the ground' and this is in your area of expertise, I would value your opinion.

Cheers Jeff


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## Miner (24 September 2009)

jeffTH said:


> Hello Miner
> 
> I was very pleased to see the above post under AXM in view of the present circumstances.  There is much discussion about the heavy dilutory impact of a rights issue of such magnitude and at what price.
> 
> ...




Dear Jeff

I can reply some of the questions you have raised using my common sense. 
Rest assured, I do not have any insider knowledge. But I suppose the business or stock analysts do not know more about mining than an ordinary miner excepting they have the sophisticated software (great weapon) and prepared reports from the CEO when they visit minesites. 

Okay straight to the point now: 

(a) Is their aim to get multiple sites feeding the mill a reasonable prospect? 

At this point I do not think they are going to afford for multiple sites. What they will aim do dig deeper and work along decline. Going to multiple sites is good when you have fund. IMO it will be a luxury for AXM to do so. DYOR.

   (b) Is the present management up to the task? 

Yes very much so. Honestly they are appeared to be hard working, professional and dedicated. You need a bit of luck to make the site a wonderful mine. 

   (c) Will they have enough money to get to production of 140k oz/year? 

That is the aim to raise fund. The only uncertainity is to strike gold. Big question and only can be speculated that historically Wiluna belt has produced huge gold, the whole area is surrounded by gold, nickel prospects. 

So if they go deeper then chances of success will be higher. once again DYOR.


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## jman2007 (25 September 2009)

In response to Jeff's questions:

2.7B shares issued at 4c? I think that pretty much sums up where AXM are at right now. Any gains to be made here are offset by the absolutely massive dilutiionary effect. Shareholders have been royally screwed.

This is real backs to the wall stuff, look at their previous track record of tapping the market for funds, it makes for diabolical reading.

Wiluna has claimed another victim.


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## jeffTH (26 September 2009)

Thanks Miner and Jman for your comments.

It doesn't look too good!  I borrowed the following from over the road re capital raisings -

$ 35m @ $1 in Jul 07
$ 62m @ 85c in Mar 08
$ 19.6m @ 27c in Jan 09
$ 28m @ 20c in May 09

Total of $144.6m plus the $60m borrowed as Senior Debt.
Now they want another $108m @ 4c 

All they have to show for this is $29.891m receipts from product sales!

I would wish that their action within the mine was as slick as their presentation yesterday.

I think it is time to salvage what I can and move on to FML, SLR to name a couple.

Cheers and good luck to those that remain.....


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## Who Dares Wins (28 September 2009)

seen said:


> I have just heard some information and tips on AXM and recently got in.. hoping to see some action within the next month.




I'd love to know what those tips were.......

Down 50% in the last 10 days since that post. 

If I were you I'd go find the guy who gave you those tips and have a word with him.


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## Riddick (28 September 2009)

Who Dares Wins said:


> I'd love to know what those tips were.......
> 
> Down 50% in the last 10 days since that post.
> 
> If I were you I'd go find the guy who gave you those tips and have a word with him.





not forgetting rule number one. never ever follow someone else's tips. i feel for you guys, good luck.


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## seen (28 September 2009)

Who Dares Wins said:


> I'd love to know what those tips were.......
> 
> Down 50% in the last 10 days since that post.
> 
> If I were you I'd go find the guy who gave you those tips and have a word with him.




I am not a patient trader and ended up buying at 0.096 and sold at 0.100, with a feeling of relief. the tip was something to do with better mining techniques which I won't fully divulge...as if it matters too much anyway.

and the guy who gave me the tip actually didn't sell and now's he's in the same dilemma as everyone else doing this


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## Miner (28 September 2009)

seen said:


> I am not a patient trader and ended up buying at 0.096 and sold at 0.100, with a feeling of relief. the tip was something to do with better mining techniques which I won't fully divulge...as if it matters too much anyway.
> 
> and the guy who gave me the tip actually didn't sell and now's he's in the same dilemma as everyone else doing this




Dear Seen

Congratulations for your sell of AXM on a profit.

I will be much obliged to just give some hints on the innovative and secretive mining technique which your tip ster gave to you ?

There are some well established techniques and AXM just do not have the capacity or capability to apply even some of the known established techniques which experts call as innovative. It is primarily due to their lack of fund situation.

So if your so called tip is not to be seen as ramping, please do yourself and us a favour by disclosing some of the truths - innovation based on which country, nature of mining and the nature of back ground of tip star.

If you can not share I am afraid to assume that your tipstars probably belong to the group of bookies from overseas who try to rig a cricket match

Look forward to see your clarificiaton !


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## Sean K (8 November 2009)

For some reason I started looking at this closely for the first time today. Maybe because of the big jump on Friday.

And, after looking though the past years anns I see no reason whatsoever to go anywhere near this puppy. 

Wiluna looks like it's a bottomless pit. Money pooring in, for about the same gold coming out. They might as well be just buying gold from the Perth Mint and claiming it as production.

Still claiming 120k pa production somewhere too I think. lol 

Has anyone checked the Directors remuneration? OMFG! 08 they paid themselves about 3/4 of a million bucks each to take the price from 70 to 20c. This year they've taken a pay cut (good on 'em) to only take in a half a million or so, and take the price from 20 to 5c. 

Nice rights issue. lol. Only a 50% shortfall. The poor underwriters will be loving that. 

Anyone got anything good to say?


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## Wysiwyg (8 November 2009)

That capital raising is ridiculous really. Average cash costs of A$1,078/oz. Hard to believe people sign up to throw money into a fire place. Must have nothing better to do with it I suppose. Probably keep some poor bugger employed for another year or two.

_Seen_ the writing on the wall ages ago. The dunny wall. 

Heading for the "Bad Company List" thread.


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## skyQuake (8 November 2009)

kennas said:


> For some reason I started looking at this closely for the first time today. Maybe because of the big jump on Friday.
> 
> And, after looking though the past years anns I see no reason whatsoever to go anywhere near this puppy.
> 
> ...




On the contrary, maybe its a windfall @ 5.2c now. Maybe pump and dump? I wouldnt touch it!
They've raised money continuously for ages now... really makes you wonder.


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## nunthewiser (18 November 2009)

Oh No.................

Wish i saw this thread before ....... 

I entered AXM today as a pure technical play .

Nice base formed , nice volumes sneaking around and will have a cupla bucks to carry them for another monrh or 6 until there next handout 

Tech play only and as with all penny dreads it could go **** up at any given moment .

Blessem.


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## jman2007 (18 November 2009)

nunthewiser said:


> Oh No.................
> 
> Wish i saw this thread before .......
> 
> ...




Haven't poked my head into this thread for a while,

Doesn't seem like anything has radically changed with AXM since the rights issue, most other recent posters in the know seem to be echoing similar thoughts re this company. Be careful with this one nunthewiser, it's a real case of survival for them atm and it's basically almost coming down to a day-by-day basis one would think. Not a stock I would care to trade to try and make a quick buck, but if you manage to then I will raise my hat to you sir


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## nunthewiser (18 November 2009)

Thankyou and duly noted jman....... Im not in this one for sheep stations and prepared for any losses i incur as always .....Small punt only based on technicals only.... 


I do love these penny dreadfuls tho


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## nunthewiser (20 November 2009)

Walked away at breakeven - brokerage today on AXM ...........Got spooked ... happy to be wrong and will re-evaluate IF it breaks to the north .


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## pedalofogus (27 October 2010)

Hasn't been any chatter on this one for a while (probably because the SP has tanked over the last year and people hate it).  Our Financial Planner at work recommended it to me a while ago when it was trading at 17cents, said it was a sensational prospect.  Then when it got to 10cents, he said the same thing.  Now that it is at 2 cents (and he is still saying it is great), i have decided to have a punt on it.

I have recently picked up a small parcel of the AXMO options as a bit of a play on a possible recovery by the company.....which may be helped by the POG.  I am only in this one to the extent that i would be happy to lose, because i am fully aware that this company could be gone-ski's in the next couple of years if it doesn't turn around.

But they have really reviewed their operations, the gen is back on line which will reduce power costs.  They have also got rid of the contract work, and everything is done inhouse now which should reduce costs.

If they can reduce the costs the way they have announced, and the POG continues to run higher, then a profit is not far away IMO and possibly the ability to start increasing production to say 10,000 oz per month.  It would also give them the cash to start drilling again, and who knows what can happen then.

At 0.5cents per option, I reckon it is a pretty good gamble.  Be interested to hear other people's thoughts though?

Cheers
Pedalofogus


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## Sean K (27 October 2010)

pedalofogus said:


> Our Financial Planner at work recommended it to me a while ago when it was trading at 17cents, said it was a sensational prospect.  Then when it got to 10cents, he said the same thing.  Now that it is at 2 cents (and he is still saying it is great), i have decided to have a punt on it.



Your 'Financial Planner' recommended it to you? HUH? A Certified FP advised you to buy this? OMG!! 

Opex of $1250 an ounce? WTF? As I said above, why not just go and buy it from the mint and call it production? This is of massive concern if/when gold corrects for an extended period. 

At least they are saving money on paper, their Sept Qtly production ann was just one page long. 

The only good thing about this is that it can't go too much lower. Surely...


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## Sean K (27 October 2010)

What is even more bamboozling to me is how this company can keep paying their management and directors so much money when the company is such a total failure. 

Creasy is taking home $580k pa. 

Congratulations, you've taken the company from $1.00 to 1c. Take a half a mill...


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## pedalofogus (27 October 2010)

kennas said:


> Your 'Financial Planner' recommended it to you? HUH? A Certified FP advised you to buy this? OMG!!




Sorry, i should clarify this.  I am an accountant and we have a Certified FP in our office (who just so happens to be a total gold bug).

Therefore, he wasn't giving me 'advice', he and I were just having a 'friendly chat' about his 'extra-curricular' activities........if you get my jist  

He certainly wouldn't be advising any of his actual clients to buy AXM as i would say it is outside of his 'accepted' list. haha


In relation to the costs, i think they may have the ability to work these down to a reasonable level, and if they can increase production then that could result in decreased costs per ounce.  And i don't think we have seen the end of the gold rush either, so if POG went to say 1700/oz it would have them making good $$$'s per oz.

But I'm under no illusions, this company is just as likely to go belly up as it is to be a 10bagger.  I am fully prepared to lose everything in this one.


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## Sean K (27 October 2010)

That's good that you obviously understand risk reward. Their ongoing problem with costs has been a significant issue for some time. At one point I think it was $1450 an ounce! Yes, if gold keeps going up then good, and if they can get costs down by continuing to produce quarterly reports on just one page, then great. If things stay pretty constant then these guys are in trouble.


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## pedalofogus (27 October 2010)

The initial paragraph on that 'September 2010 Quarterly Production Highlights' says that:



> Apex Minerals (ASX:AXM) is pleased to provide a brief update on its operational performance for the September quarter in advance of the full quarter report due to be released toward the end of October.




So hopefully within the next 3 days we can expect a more detailed description of what they have achieved in the Sept Qtr.  I'm not expecting anything sensational however.


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## Sean K (27 October 2010)

OK, look forward to the update.

I do see where your FP (gold bug) got the seed from. I've gone back to 2006/7 reading their reports and presentations. There were some high hopes for this little turkey. 

It seems that they were relying on feed from outside Wiluna to get the costs down, but that has not eventuated. But I'm only half way through all their announcements so there may be some other issues or that is incorrect. 

Gotta be something wrong though.

Charts rarely lie.


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## pedalofogus (27 October 2010)

Unfortunately for him, when he got the seed he proceded to buy in at 90cents (or some crazy amount) and he has been averaging down ever since.

They certainly have had some issues, but have had some key staff changes recently as well.  I am glad to see that they have appointed a new CFO, I think a lot of people underestimate the impact a CFO can have on a company.


I am also glad to see you have taken AXM in the November tipping comp.  I almost took it myself, but had to stay true to my current favourite (AJM).  But I'm glad someone has picked it up.  November could be it's month!


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## Sean K (27 October 2010)

pedalofogus said:


> I am also glad to see you have taken AXM in the November tipping comp.  I almost took it myself, but had to stay true to my current favourite (AJM).



I only normally pick things that have so much negativity surrounding them that any slight quirk might pick them up a bit. It's the equivalent of the Roubini mantra...


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## pedalofogus (2 November 2010)

Annual Report and Quarterly Report have come out the last 2 days.

Quite interesting reads.

There were some very encouraging things to come out of those reports, and they seem to be getting everything moving in the right direction (ie number of oz being produced has increased in last 5 qtrs, cost per oz seems to be on the way down).

However, i am especially concerned about the amount of $$$'s in the bank.  Their cash burn has been amazing over the last 3 months, and if they keep up that level of development work then the next capital raising wont be far off.

They have indicated that one mine is up for sale.  Really need that to be finalised to bulk up the cash reserves IMO.


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## pedalofogus (26 November 2010)

I was actually thinking to myself this morning 'I wonder when AXM will run out of cash'.  As if they have heard my thoughts, AXM have released their AGM presentation slides to the market.

They claim in those slides that the cash costs per oz were $850 (which was 23% lower than September quarter), and i estimate that it is about half of what it was at the start of the year.  

At $850 per oz, gives a margin of approx $450 per oz (VERY ROUGH FIGURES), and on 6800 oz's gives a cash profit of approx $3m (before non cash costs etc).

Now obviously i would wait for the fully audited figures to come out (and evidence that this is sustainable over a long term) before i suggest people go flooding back into AXM.  But it is a very positive sign for current holders!


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## pedalofogus (17 December 2010)

November production results are out, and it is another positive result for AXM.  Cash costs remained similar to October of $871 per oz.  Production for month was just under 7,000 oz's.

Overall a very positive couple of months for AXM.

But the market still appears to be very wary about whether this recovery can be maintained (as can be witnessed from the lack of movement in the share price after the announcement today).


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## Trevoru (24 December 2010)

up 15% so far today - good depth with lots of buyers lined up

TU


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## pixel (24 December 2010)

Yesterday's JORC resource upgrade may have something to do with it?
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01136629

I managed to top up at 2.3c. Good luck to all fellow holders


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## pedalofogus (27 January 2011)

Trading Halt this morning.  Company's reason for halt is:

'in relation to an asset sale, a restructuring arrangement regarding the Gold Upside Participation Notes and a proposed capital raising'

Be interesting to see whether this ends up being negative or positive for the company.  My initial thoughts are that it will be negative, especially if it is a large capital raising (because the shareholders of this company have seen more capital raisings than they have seen hot dinners in the last couple of years).  But possibly a higher than expected price being received for Younami (i think thats how you spell it) could see it turn into a positive.

But why would they need to do a capital raising if they received decent cash from the sale of a decent sized asset?

Anyway, enough speculation.  Wait and see i guess.

Good luck to fellow holders.


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## pedalofogus (29 January 2011)

Article speculating what we are going to find out next week from apex.

http://au.news.yahoo.com/thewest/business/a/-/business/8730688/apex-to-raise-30m/


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## tech/a (29 January 2011)

> I managed to top up at 2.3c. Good luck to all fellow holders




Do you still hold?


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## pedalofogus (2 February 2011)

Wow, talk about overkill.  This capital raising is much larger than is needed.  With the cash they received from Gidgee and the cash to be received from the Institutional placement, they would have had enough cash to pay out the GUP notes and retain some cash for working capital.

But instead they have decided to raise another 16m to pay off debts that were fine the way they were.  And to make it worse, the cap raising price is 1c !!!


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## Trevoru (2 February 2011)




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