AIV – ACTIVE X, NEED TO CHANGE NAME TO IN-ACTIVE X.

Active X is a Chinese controlled ASX Listed Company that is the owner of some of the largest swathes of mining tenements in Queensland, nearly all exploration permits. Looking through its quarterly reports and its financials, its hard to see why they bother being listed. The shares seem to have never ever traded (current buyer is 12.5c, seller is 14.5c last trade was 0.18c). Bit fishy? and from reading their reports they don’t drill holes, just take rock chip samples. Their cash at the end of each quarter varies from $10,000 to $40,000 but says they have an arrangement for a loan from a group called ASF Group Limited. Probably a back up Chinese Company.

For one of Queensland biggest holders of EPM’s it has to make you wonder how a little company like this with no cash and does not drill holes, can control so much ground in the state of Queensland. The last quarterly says, Active X collected the rock chip samples at Gilberton in April/May and said they would report the results when they come in. They reported the results on the 19th September. Must be getting them assayed in China?

In the entire year Active X has put out only 12 notices to the ASX. With Eleven, (11) of them are mandatory like Quarterly Activities and Quarterly Cashflow and Half Year Report. The only exploration report other than the mandatory reports is one on 19th September 2019 a date for them to remember and celebrate.

A REPORT ABOUT NOTHING. 7 PHOTOS AND GRAPHICS THAT MEAN DIDDLY SQUAT TO SHAREHOLDERS. THEN A BIG PROMISE: Gilberton Gold Project. Basically the announcement had 7 photos and graphics that mean absolutely nothing and a bunch of rock chips that mean absolutely nothing. To finish the Company says: “After results confirm that the Gilberton Gold Project (its not a project its a prospect) remains a high priority exploration target for the 2019-2020 field season.: The “field season”. What is the field season? So what is the follow up they have planned? Maybe the Chinese don’t know that the field season in Australia for exploration is 365 days a year.

CASHFLOW REPORT – for one of the largest holders of exploration EPM;s in Queensland.

Exploration Expenditure: $52,000

Staff Costs and Administration and Corporate Costs: $111,000

So more than double the exploration expenditure is spent on Staff and Corporate and Admin.

AND SOMEONE IS LENDING THEM $2 MILLION. Maybe this is the way Chinese operate.?? Will take them 10 years to spend it at the current rate of expenditure.

Goldman

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