# AEX - Acclaim Exploration



## crackaton (28 January 2006)

Check this one out people. Has uranium gold and possibly coal. Worth a look and might start moving soon.


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## TheAnalyst (28 January 2006)

crackaton said:
			
		

> Check this one out people. Has uranium gold and possibly coal. Worth a look and might start moving soon.




How far off production ??


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## crackaton (28 January 2006)

No production yet, but worth look analyst. Check charts out too


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## crackaton (28 January 2006)

AEX advises that "non JORC" resource is 11,000 tonnes of U at a grade of .035%. They never mention the gold grades at the Denny Dalton Mine. Most of the South African gold mines (as is the AEX project located) mine gold from Witwaterrand quartz pebble conglomerates. Historical average grades from these mines run around 8-9 g/t au and as high as 14 g/t. U is produced as a by-product from gold mining at tyical grades that AEX reports at Denny Dalton.

AEX reports that earlier studies anticipated a production rate on the U at 1,000 tonnes per annum for 10 years. At a grade of .035% that equates to 11.29 ozs per tonne (valued at US$26.10 or gold equivalent value of 1.47 g/t @ US$550oz).

To recover 1,000 tonnes of U per annum at this rate means processing 3,117,804 tonnes of ore. The profitability of the operation will be found in the amount of gold in the ore IF it hits anywhere near average grades for South African mines then gold equivalent (U + AU) grades will be around 10 grams per tonne. At 3,117,804 tonnes x 10 grams = 1,005,743 ozs per annum.

I am doubting that the grades of AU are this high BUT the above number indicates that the numbers will be very large. The market probably discounted the stock because the gold grades were never mentioned. In any event if we discount the above numbers by 75% we still get an estimated 250,000 ozs of au equivalent per year with gross revenues of US$135,700,000. assume operating costs of US$400 per oz and we are left with US$35,700,000 free cash per year. A valuation of five times cash flow = US$187,500,000

Fully diluted for 565,000,000 shares / oppies that is 44 cents per share in A$. IMHO AEX is probably worth 10-15 cents per share somewhere in the near future IF the above scenario is a reasonable assumption.


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## TheAnalyst (28 January 2006)

Hi Crackaton

Has the company indicated at all at when they plan to actually get something out of the ground...say in a 1 yr, 2 yr or 3yr timespan as this sounds interesting.


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## TheAnalyst (28 January 2006)

The objectives of the Company's exploration and corporate programs for 2003 are: -

    * Exploration for nickel sulphides on the recently acquired Claude Hills tenements
    * Target drilling on Wingellina to extend to laterite resource to 100 million tonnes at 1.5% nickel [+25 year mine life]
    * Reduce administration expenditure
    * Raise awareness in the investment community and amongst global miners as to the quality of our assets

Still no one has come to the party and sounds like they are dressing their nickel up to be sold to a bigger mob....another danger is they only have $935,000 in the bank so dont know how long thts gonna last till they need to raise capital as no bank will lend them any money.

The u mine is at  the medium advanced stage so would like it some one could explain in simple language how far does that mean before it sells the stuff? 5 yrs, 2Yrs...


Crackaton do you know actually on a map where the nickel mine is and how far it is from a railway line and if the railway line can actually fit iny more carraiges on it..maybe smurf can help us out here.

At present i would throw $500 on the stock and see what happens.


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## crackaton (28 January 2006)

My understanding is that there is a road?? Details are a little sketchy and I don't know anything about a rail link. Sorry. But might still be worth 500$ as you say.


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## Smurf1976 (29 January 2006)

TheAnalyst said:
			
		

> The u mine is at  the medium advanced stage so would like it some one could explain in simple language how far does that mean before it sells the stuff? 5 yrs, 2Yrs...
> 
> 
> Crackaton do you know actually on a map where the nickel mine is and how far it is from a railway line and if the railway line can actually fit iny more carraiges on it..maybe smurf can help us out here.
> ...



It depends on what they mean by "medium advanced". I don't know anything about this company or the specific project but I doubt they would be selling product in less than 2 years if they're still needing money for development etc. More likely it will take 3+ years but as I said I'm not familiar with this project, just making a general comment.

As for transport, for gold and uranium a road ought to suffice since the physical volumes aren't huge relative to value. For nickel they would want to be within reasonable distance of rail or some other transport method or at least have a good road capable of carrying very large trucks at high speed to be economic. In general rail is cheaper.

As I said I don't know the details of the project though so just making general comments.


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## rederob (29 January 2006)

AEX has yet to acquire Denny Dalton in S.Africa.
AEX has no other projects set to move ahead - they appear to be pinning their hopes on Denny Dalton.
AEX is about 12 months behind Paladin, so use that as a yardstick - on the basis they get Denny Dalton.
At this stage there are advantages coming in a bit later as negotiated forward contract prices for uranium will be higher and project financing easier.


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## TheAnalyst (29 January 2006)

If they are so good and have this big nickel mine then if they are so good why havent they got it up and running if they are so smart.....i think the boom will beat these fella's and they know it so the plan is amongst them lets get this share price moving and try and get some of those options converted at 25 cents and get some dough before it heads back to zilch.

I think maybe the next boom for this one 10-15 yrs away.


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## crackaton (29 January 2006)

I take it they are your opinions based on no real facts, correct analyst? Did you tear the shreds out of me for posting my views over at MMN? Bit hypocritical wouldn't you say.


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## TheAnalyst (29 January 2006)

crackaton said:
			
		

> I take it they are your opinions based on no real facts, correct analyst? Did you tear the shreds out of me for posting muy views over at MMN? Bit hypocritical would'nt you say.




They are based on facts that are presently available to the market currently and i am not tearing you to shreds as there are others reading the posts....I have evaluated them in light of the nations economic cycle as well as the worlds economic cycle especially the major drivers China and India and said ok can AEX get it going before the cycle is finished? And considering others from historical resource booms which then brings us to the sector approach..MINING...and crackaton if you are not aware of Smurfs qualifications and mine as well when it comes to finance i can tell you a little about the options convertable at 25 cents.

The company has nothing happenning in the short term future and not even the medium future it has already surrendered to the fact that they wont produce nickel but will sell the whole mine if they can to a large miner from their 2003 corporate vision which i posted on the thread for you.

I have specific qualifications in analysing financial statements and they have $935,000 in the bank, how long is that gonna last?

You have been presented with hard facts and MMN also has the hard facts they are right near production phase though they are high risk and then i have only thrown $1000 to the trade and you disputed the MMN process with no evidence i have presented to you AEX in regards to their current situation and it aint real good but like i said $500 is all i would put on it and you know by Smurfs post of the Uranium process...it looks like it will miss the boat and the directors want an earn before it falls totally on its a** at the end of the boom.

You can take a punt on it and get some technical bounces if you are lucky but i wouldn't when there are much better plays happenning right now i have just made 30% in the last week on the RIO play installment warrants RIOIZL and the party aint over ...so why would you want this thing when there are less riskier ones around like some gold stocks BGF especially and you can sit on it for a couple of yrs?

I am not tearing you down i assessed it the same way as i assesses Quay magnesium QMG, MMN, BGF, MGX, STO, these 4 stocks are right near production and had a pour have good forecasts and good historical reporting and share price growth or are running and increasing production and exploration and earning and almost finished production facilities and have infrastructure or attaining infrastructure and at each stage of proving production and gaining investor confidence the diminishment of risk step by step increases their share price...and yes i know there are more like this out there.


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## TheAnalyst (31 January 2006)

hey AEX has jumped a bit hey crackaton...bit fast for me though


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## crackaton (1 February 2006)

Hope you got on yesterday


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## nizar (1 February 2006)

rederob said:
			
		

> AEX has yet to acquire Denny Dalton in S.Africa.
> AEX has no other projects set to move ahead - they appear to be pinning their hopes on Denny Dalton.
> AEX is about 12 months behind Paladin, so use that as a yardstick - on the basis they get Denny Dalton.
> At this stage there are advantages coming in a bit later as negotiated forward contract prices for uranium will be higher and project financing easier.




according to quarterly, the acquisition of denny dalton is complete...
they say the project is at a medium advanced stage but they still need to do BFS so at least 2-3yrs away from production if u ask me, we still dont know how much they can produce annually, mine life, costs, etc...

but yeh 11,025t of u3o8 is heaps, thats like 24m lb, heaps of cash flow if all works well...

but there does seem 2 be alot of interest at the moment, gee i wish i knew who was buying all those shares...


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## TheAnalyst (1 February 2006)

how much have you made you son of a gun cracka.....then i wonder if you will know when it falls as well


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## crackaton (1 February 2006)

Not as much as your 5K lol Well done. have you been getting a bit of the ext action as well? Keep an eye on our old freind MMN. and checkout BGF as well.


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## TheAnalyst (1 February 2006)

what do you think of mmn and bgf are you holding


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## crackaton (1 February 2006)

No not yet. Just watching and waiting. BGF looks like it might make a move soon. Management has to make an ann at MMN soon. Oh and check out aar, lots of action there today maybe a quick  buck or two tommorrow.


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## carpets (1 February 2006)

whats your reasoning behind aar?


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## rederob (1 February 2006)

analyst
i got in at 2.3cents for 200k shares and unfortunately had bids for 400k more but the price jumped too far ahead
i wish i had put more than pocket money on it now, but as i bought in early january there were holiday bills to pay!
if you followed Paladin you would be aware of the skepticism that surrounded its early days
these will not pervade Acclaim as the news is out and its good - there really is viable uranium in the district
more drilling required, and it usually shows "more" uranium, not less, as prospectivity remains good in its tenement
as crackaton notes, 11,000tonnes of uranium is ready to go radiactive for stock holders - i'm excited!


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## surelle (1 February 2006)

i'm reading and enjoying your banter guys, starting to get a better understanding of it all (i'm a newcomer)

So does aar look promising?


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## crackaton (3 February 2006)

Today should be interesting


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## TheAnalyst (3 February 2006)

rederob said:
			
		

> analyst
> i got in at 2.3cents for 200k shares and unfortunately had bids for 400k more but the price jumped too far ahead
> i wish i had put more than pocket money on it now, but as i bought in early january there were holiday bills to pay!
> if you followed Paladin you would be aware of the skepticism that surrounded its early days
> ...




thas good....i just wasnt past enough to get my $500 worth and it had its jump....obviously market momentum is there but certianly know real fundamentals are showing yet.....basically its trading on something that will happen in two-three years at todays prices......my risk profile sometimes just doesnt suit this type of trading and i cant be on every stock...just have to much on my mind at the moment and study starts again in March so i will be entering trades that have a low volitility implied to them as i will be honest i hate sitting around watching the market and stocks even thogh the money can be great


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## crackaton (3 February 2006)

Me too analyst. I hate sitting around watching a screen while at work making 10k a week and still getting paid by the boss. lol

Life's tough aint it


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## Porper (3 February 2006)

crackaton said:
			
		

> Me too analyst. I hate sitting around watching a screen while at work making 10k a week and still getting paid by the boss. lol
> 
> Life's tough aint it





So you make 10k a week trading the stockmarket eh Crackton 

Maybe you should share some of your key trading plan elements to give the rest of us a chance


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## crackaton (3 February 2006)

Not every week, just some. My key strategy is luck for quick trades. Some lucky ones include EXT AEX BGF for this week and last. Who knows what it'll be next week


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## TheAnalyst (3 February 2006)

crackaton said:
			
		

> Me too analyst. I hate sitting around watching a screen while at work making 10k a week and still getting paid by the boss. lol
> 
> Life's tough aint it




Well crack thats why u can afford to throw money on stocks like AEX and not worry...even throw way above $2000 on these things and just wait for a ride to come along......i actually have to do it a lot tougher as I am  sole parent and had to stay home from wen my young boy was only 12 mths old 9 yrs ago and couldnt  go back to trade work and unfortunatly did not  have family to help so i have to get as much bang for bucks as i can with as little risk as possible and have to put uni as a priority...so hey hope maybe in the next 2-3 yrs i can do the same as you


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## crackaton (3 February 2006)

No worries analyst. Everyone has their own style and mine is definitely not for everyone. I was in the fortunate position of being able to by lots of blue chips some years back, ones like NDY GMF MIM ANN etc when no one wanted them and they were cheep. I cashed in when they rocketed and everyone was busy buying house etc. Anyway, what are you studying? Hope you do well.


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## TheAnalyst (3 February 2006)

crackaton said:
			
		

> No worries analyst. Everyone has their own style and mine is definitely not for everyone. I was in the fortunate position of being able to by lots of blue chips some years back, ones like NDY GMF MIM ANN etc when no one wanted them and they were cheep. I cashed in when they rocketed and everyone was busy buying house etc. Anyway, what are you studying? Hope you do well.




Actually your style is mine just working my way there but probally the way things are looking i am doing ok at the moment.


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## carpets (3 February 2006)

what are some of your picks for 10k next week crackaton?


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## crackaton (3 February 2006)

Keep an eye on SBM and BGF. But don't buy on what I am saying OK. They are my opinions only!!


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## carpets (3 February 2006)

Note taken, just interested, thats all.


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## crackaton (17 February 2006)

Interesting volume today. Not much sp movement. I bought in at .32 and made a tidy little profit anyone else do well?


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## tarnor (18 February 2006)

I jumped in on the high for the false breakout and had to bail when it turned..

bit dissapointing really.... wasn't even anyone soaking up shares when it fell back.. whats wrong with punters thought everyone would be all over this thinking it would move like ext.. worth watching closely


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## crackaton (18 February 2006)

Think you'll find thats why it went no where, traders don't like holding over the weekend. Lets see what happens monday.


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## kariba (26 February 2006)

Hi all

I think AEX is a uranium stock with incredible potential.

Low share price 
Minimal downside from here
Options offer good leverage
Just purchased a possible "company-making" project in South Africa
JORC inferred resource of 11,000 tonnes of U3O8 @ .035% 

This a spec, but worth putting on the watchlist for any price strengthening or volume increase.

Best Regards


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## kariba (27 February 2006)

good time to accumulate on weakness, not much downside left in the SP - the fundamentals are in place - just waiting on announcements

regards


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## IGO4IT (14 March 2006)

anyone knows what the price & volume spike about today?

are we expecting any announcement soon? I thought next update is in April.

cheers,


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## laurie (14 March 2006)

Drilling results leaking out!!

cheers laurie


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## IGO4IT (14 March 2006)

laurie said:
			
		

> Drilling results leaking out!!
> 
> cheers laurie




ok  so did it leak out your way? 

can you give us any news or is the news that there is news coming soon?


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## laurie (14 March 2006)

IGO4IT said:
			
		

> ok  so did it leak out your way?
> 
> can you give us any news or is the news that there is news coming soon?




lol wish it did! just by looking at volumes   

cheers laurie


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## crackaton (15 March 2006)

check out aar as well


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## IGO4IT (15 March 2006)

crackaton said:
			
		

> check out aar as well




Why am I always not holding the stocks when they start going crazy   

I seem to somehow get bored too fast, oh well, i guess you win sum & lose sum.


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## takuya520 (16 March 2006)

Half year accounts ann. just released... 
any thoughts?


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## IGO4IT (16 March 2006)

takuya520 said:
			
		

> Half year accounts ann. just released...
> any thoughts?





I was confused as well, but practically nothing new except for few words in begining about potential to get more U.


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## nizar (16 March 2006)

IGO4IT said:
			
		

> except for few words in begining about potential to get more U.




maybe thats all the market was waiting for?

we'll see 2mrw


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## hh33 (27 March 2006)

Small increase again today (finally!). Does anyone know when drilling results are due?


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## IGO4IT (27 March 2006)

hh33 said:
			
		

> Small increase again today (finally!). Does anyone know when drilling results are due?




Drilling should start anytime from now until 6-7 weeks if I'm not mistaken but I'm smelling an ann or update coming soon.

today's price increase could be because of that.

we'll see.


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## IGO4IT (27 March 2006)

an announcement just came out saying that drilling will start in April.


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## nizar (27 March 2006)

IMO this is the announcement the market was waiting for...

It was expected after the feb16 AGM, which is why price spiked to 4.1 since traders wanted to get set, but since no news, back down to 2.9-3.0... and then 2 weeks ago another few rumours that announcement was soon, spike to 4.5, never came, then down to 3.7-3.8 on friday....

Now the announcement is here.. and confirmed gold resource... 2,5million ounces....

Drilling will start april... im guessing that results will come out maybe june-july?

In the meantime, They way i see things from now is this: downside is very limited, maybe 25% is all u lose, 3c is the lowest it will go to but only if drilling delays or sumthing, but the upside, oh my, maybe if uranium and gold confirmed, this could be 10-20c by august-september.... or higher...

Was going 2 buy a parcel 2day, then thought id wait...    

I will be very suprised if this doesnt hit 5c 2mrw...


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## kariba (28 March 2006)

Wow - fantastic announcement ...... this should really spark some interest in AEX 

Massive potential if this all comes off

cheers


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## IGO4IT (28 March 2006)

kariba said:
			
		

> Wow - fantastic announcement ...... this should really spark some interest in AEX
> 
> Massive potential if this all comes off
> 
> cheers





today's increase is nice but I see many trader couldn't believe themselves & done the bugger all & kept selling.

intresting to see how many of them out there & how far they can last before price keeps going up 

I'm so lucky to have both AEX & EXT on board NOW!!


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## surelle (28 March 2006)

you''ll always get your profit takers selling in a rush, but maybe with this one they should have waited a little longer...fingers crossed for all who hold


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## crackaton (28 March 2006)

surelle said:
			
		

> you''ll always get your profit takers selling in a rush, but maybe with this one they should have waited a little longer...fingers crossed for all who hold



bit of a pump and dump today. i expect aex and ext to drop a little in coming days.


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## kariba (29 March 2006)

Will take a while for the market to catch on to this - until then it will be traded short-term so expect up & down for a while. IMO this will not fly yet, it is better suited to parking some money in it & let ride upwards until the big announcement lights its fire!

regards


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## Fab (2 April 2006)

I can not see anything exiting about this stock. Can anyone explain me why you are investing in it ?
I hold PDN and SMM and I am looking at MTN but aex is not even in my watch list.


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## nizar (2 April 2006)

Fab

Read their announcement on 27/3 titled "Project update"

Go to page 3 and read table 1:

2.5million ounces of Au
11,025tonnes of Uranium

Uranium is on fire, and Gold just touched new 25yr highs..

They already have a JORC resource from 2005...

Pretty exciting to me, and judging by last week's volume, any others are thinking the same..


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## rederob (2 April 2006)

nizar said:
			
		

> Pretty exciting to me, and judging by last week's volume, any others are thinking the same..



Nizar
Please stop ramping AEX as my efforts to buy more are thwarted by ever higher prices.
I am now looking at their options instead coz they are a bit cheaper, and almost in the money.


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## crackaton (2 April 2006)

Well guys I bought a truck load of these some months back when I mentioned it. I am now sitting on a very healthy profit and intend cashing in when it hits 10 cents +. My other little favorite AAR looks set to move soon as well.


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## laurie (2 April 2006)

Fab said:
			
		

> I hold PDN and SMM and I am looking at MTN but aex is not even in my watch list.




Fair enough!! SMM and MTN are not on my watchlist either   

cheers laurie


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## michael_selway (2 April 2006)

crackaton said:
			
		

> Well guys I bought a truck load of these some months back when I mentioned it. I am now sitting on a very healthy profit and intend cashing in when it hits 10 cents +. My other little favorite AAR looks set to move soon as well.




hi cashing all at 10c? so not much upside after 10c?

thx

MS


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## champ2003 (3 April 2006)

Ya recon!???


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## laurie (3 April 2006)

michael_selway said:
			
		

> hi cashing all at 10c? so not much upside after 10c?
> 
> thx
> 
> MS




Well looking at you avaitar you must be still in childcare to say that!   

cheers laurie


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## champ2003 (3 April 2006)

What or who are you referring to Laurie? 

What or who is avaitar?


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## Cyph (3 April 2006)

LOL!

I question whether some people on this thread should even be trading shares! 

Anyway, crackaton reckons he's going to sell his parcel if/when they get to 10c... michael_selway has asked if there isn't much upside potential to 10c... laurie's said he must be in pre school based on his rather ignorant comment combined with his avatar (the picture next to your name if you have one).

If they get some gold production or Uranium production going, then this is going to determine their upside and I can tell you that they're going to be a lot higher than 10c.


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## crackaton (3 April 2006)

Cyph said:
			
		

> LOL!
> 
> I question whether some people on this thread should even be trading shares!
> 
> ...



lol If. Who started this thread anyway? I'm selling for other reasons not because it won't go past .10. I need a new boat and car. So there!!


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## laurie (3 April 2006)

crackaton said:
			
		

> I need a new boat and car. So there!!




Yeh but wait a bit longer crackaton and you can also have a helicopter  :fu: 

cheers laurie


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## pharaoh (12 April 2006)

Hey guys

Anyone on AEX again / still?
Just bought in yesterday - yep, that's my motto, buy high........wait for a while 

AM happy to get in anyway. 
Any thoughts on it now?

I know it has the GM on april 24, hopefully some good news, it's been steadily growing of late.


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## nizar (12 April 2006)

pharaoh said:
			
		

> Hey guys
> 
> Anyone on AEX again / still?
> Just bought in yesterday - yep, that's my motto, buy high........wait for a while
> ...




Yes thats the way, buy high sell higher...

Umm.. fundamentally since that 27/3 announcement, nothing has changed...

They have a JORC resource from last year (2005) drilling of 11,025tonnes uranium and 2.5m oz of Gold...

They are now drilling to confirm this...

Initial results are expected to be out next month so i hear...


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## laurie (12 April 2006)

nizar said:
			
		

> They have a JORC resource from last year (2005) drilling of 11,025tonnes uranium and 2.5m oz of Gold...
> 
> They are now drilling to confirm this...
> 
> Initial results are expected to be out next month so i hear...




Well if that's true nizar just on the U that's $1Billion!! 

cheers laurie


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## pharaoh (13 April 2006)

That seems true - doesn't that mean prospects should be extremely good??

Like such that the current sp should be completely undervalued?

Oh, just to clarify, I dodn't intend on buying high - last few trades seem to buy then the bloody things retrace within minutes - doh...


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## kariba (14 April 2006)

Great time to accumulate AEX _ I have taken opportunity last 2 days to add to my existing holdings in both AEX & AEXO

IMO we wont be disappointed! It has moved up 100% in the last few months so consolidation is healthy - The market also has to have further "proof" that this project is as good as it is described. Thing is: even if it is only HALF as good, then 50 cents will end up being cheap. Also: Once the market is "convinced" by positive announcements, it will be too late.

My policy: Take a strong position initially & then accumulate on strength. So I am in since Feb at low prices, then have added along the way as new levels have been confirmed.

Cheers & all the best


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## pharaoh (14 April 2006)

Thanks Kariba

A mate of mine has been trading aex for a few years and said it only fluctuates between 2c - 6c, but I get the feeling it is moving into the next stage where they are making significant gains and moving out of that realm. 

Seems to be the sentiment on the boards too, so that's good to hear. 

Hey, can you tell me how options would work on aex?
I am v naive when it comes to this. How does it work?

Thanks


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## nizar (14 April 2006)

pharaoh said:
			
		

> A mate of mine has been trading aex for a few years and said it only fluctuates between 2c - 6c




That was before they bought Denny Dalton, which was late last year...

Like laurie has mentioned they are sitting on $1billion in Uranium and $1.375billion in gold (using gold=us550)....

I think the fact that they have 4.5million shares in MTX, and $1.6million cash and dont forget they already have a JORC resource, will somewhat put a floor on the share price if it falls due to delays and problems etc...

Maybe it will go down to 3c or 2c..

But the upside, imagine from 2009 they start producing 200,000oz per annum and 1,000tonnes of uranium per annum...

In that case $1++

I believe that in follow up drilling, if results come good, the share price would be 10c, and then after pre-feasibility studies are down (1 step b4 BFS) by end of the year maybe, we could see 50c+ by december...

So risk/rewards look very good...

They already have a resource remember, so market cap of $30million is a joke, much less than some EXPLORERS....


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## rederob (14 April 2006)

nizar
I hold AEX and am optimistic of a good outcome.
Having a known resource is a good start, but drilling may show it is not as robust as anticipated, or not viable until uranium reaches a particular price.
Assuming all goes well, AEX will need to raise money to mine the ores.
New shares will be offered to the market and significant dilution will occur.
Ideally AEX will want the share price as high as possible before going cap in hand to fund the mine, so I expect they will release the exciting news first, and follow it up with something long and technical that most of us will ignore because we can't understand it.
Selling time will be the day after the good news, and buy back time will be in the week that new shareholder allocations are made.  I say this because there is a mood of expectation in the interim, and the delay in between tends to drag down the share price.
But that's just how I see it.
I could have it very wrong.
That said, remember that we are talking about the capacity to mine virtually unencumbered, so AEX knocks the sox off Australian hopefuls from this very practical perspective.


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## kariba (14 April 2006)

pharaoh said:
			
		

> A mate of mine has been trading aex for a few years and said it only fluctuates between 2c - 6c ......




Hi Pharoah

True but we have a new situation: 1] Boom Uranium market 2] New project Denny Dalton



			
				pharaoh said:
			
		

> Hey, can you tell me how options would work on aex?
> I am v naive when it comes to this. How does it work?




You trade options (AEXO) thru your broker same as fully paids (AEX) - Difference is that at future date (AEXO - June 30, 2008) you need to make a payment to convert them to AEX's - In this case 5cents. So in theory there should be a 5cents difference between the two. However because 2008 is way off, they will trade for some time at a premium - currently only 2cents difference.

At this stage the benefit/dangers of options is LEVERAGE! You get to buy more AEXO's per $1 & you can therefor make more profit as the SP rises (or losses if it drops)

A suggestion would be to buy into BOTH. Perhaps 75% AEX / 75% AEXO as a start until you get more confidence.

Just remember with options, you need to make sure they are "in the money" as the due date approaches. If not they are worth $0.00!!!! (that means the FPO's have to be trading ABOVE the cost of conversion)

Hope that helps

cheers


----------



## IGO4IT (15 April 2006)

hi guys,

always been a fan of uranium & I hold a small lot in AEX but really agree that fund value didn't change from 3 weeks ago till now & real gain should be more on the long run, just still can't make sense of current hype & idea of retrace is a bit logical & defenitely a possibility.

about gold, currently sitting on US$600 & defenitely a winning card specially that real production is in future which allows more time for higher gold prices.

Uranium is the amazing part of the story where no one can really see where its heading, demand is extra ordinary & govts all over the world building nuclear power plants as if they can grow Uranium in their backyards, so personally I would be amazed if U price didn't double in price in 24 months if not earlier.

Today's story is Uranium, so physically if we put the word uranium in any sentence it will attract attention.

cheers & good luck to all on this one, including me


----------



## laurie (15 April 2006)

IGO4IT said:
			
		

> Today's story is Uranium, so physically if we put the word uranium in any sentence it will attract attention.
> 
> cheers & good luck to all on this one, including me




Yes and to add another 30% to the sp say "Olympic Dam Style"   

cheers laurie


----------



## pharaoh (16 April 2006)

Thanks Kariba and all.

When would you expect drilling results ann?
Hoping it will be good news then


----------



## nizar (16 April 2006)

pharaoh said:
			
		

> When would you expect drilling results ann?




By the end of May IMO

But hard to tell, could be delays, etc...

But similar follow up drilling by AGS took around 4 weeks....

Remember AEX started beginning of April, so end of May should be enough time...


----------



## pharaoh (16 April 2006)

Thanks Nizar

Oh, pls check out my question post in the Beginners Lounge if you get a moment, would be interested in your thoughts.


----------



## nizar (16 April 2006)

From my understanding, the drilling by AEX now is to convert the Inferred JORC resource into Indicated categories... is that right?

From your experience (any1), what are the risks involved?

Is there a high/low chance that the resource can be converted to the other category?


----------



## rederob (16 April 2006)

nizar said:
			
		

> From my understanding, the drilling by AEX now is to convert the Inferred JORC resource into Indicated categories... is that right?
> 
> From your experience (any1), what are the risks involved?
> 
> Is there a high/low chance that the resource can be converted to the other category?



nizar
AEX need to establish "reserves" so they can develop a viable mine.
Reserves are defined as proven or probable categories, and are usually expressed with a "cut-off" grade.
The cut-off is usually set at what is financially viable to mine (and as prices rise for the mineral, the cut off grade can reduce).  
The next step is look at what costs are attached to mining what is confidently discovered.
Lending institutions need the highest degree of confidence that what will be mined will give a return on the investment, thus we call this next step a Bankable Feasibility Study.
At this stage we will know how much more money is to be poured into the company, and the extent of inevitable share dilution.


----------



## dingo37 (16 April 2006)

rederob said:
			
		

> nizar
> AEX need to establish "reserves" so they can develop a viable mine.
> Reserves are defined as proven or probable categories, and are usually expressed with a "cut-off" grade.
> The cut-off is usually set at what is financially viable to mine (and as prices rise for the mineral, the cut off grade can reduce).
> ...




hi rederob,

and the chart is showing it could be up for a bit of a trade as well.

regards dingo37


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## kariba (17 April 2006)

Hi guys:

From a mining guide:

Mineral Resources are subdivided, in order of increasing confidence in respect of geoscientific evidence, into Inferred, Indicated and Measured & Reserve categories.

1] *Inferred Resource * is a Resource which can be estimated with a *low  * level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. 
2] *Indicated Resource * is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a *reasonable  * level of confidence. It is based on exploration and drill holes. That are spaced closely enough for continuity to be assumed.
3] *Measured Resource * is a Resource which can be estimated with a _*high * _ level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity. 
4] *Probable & Proved Reserves * is the economically mineable material derived from a Measured and/or Indicated Mineral Resource. It is inclusive of diluting materials and allows for losses that may occur when the material is mined. Appropriate assessments, which may include *feasibility studies*, have been carried out, including consideration of, and modification by, realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction is reasonably justified.

AEX's immediate goal as stated on page 3 of the last announcement is to move to "indicated" and "measured" categories

The next step is to begin a scoping study & Pre-feasability study & then Bankable Feasability Study - As mentioned in description 4, it is during this process that the Probable & Proved Reserves are arrived at.

A "measured" resource will see AEX's shares rocket!!! They will at this time announce commencement of feasability studies that will put AEX on some serious radars!!

So lets get to that next step  

cheers


----------



## 123enen (17 April 2006)

Does this mean that AEX paid $6Million for a guess, inferred Resource having  substantial uncertainty.


----------



## nizar (17 April 2006)

123enen said:
			
		

> Does this mean that AEX paid $6Million for a guess, inferred Resource having  substantial uncertainty.




I see where u are coming from, but $6million was a substantial % of their market cap at time of purchase, and they sold off their nickel projects to pursue DD, so Id say management is pretty confidence that DD will be a winner


----------



## rederob (17 April 2006)

123enen said:
			
		

> Does this mean that AEX paid $6Million for a guess, inferred Resource having  substantial uncertainty.



kariba
Thanks for the infill post - I tried to keep mine simple.

123enen
No.
The resource can be reasonably inferred to exist, but the certainty of its probable quantum and quality cannot be determined without significant additional drilling.
Infill drilling to known depth will give greater certainty, ie more holes in the same area but between the holes already drilled.
Sometimes such drilling indicates an extension of the target geology might be worth following as sophisticated computer graphics/3Dmapping is used and will give them a good idea of what they have.
AEX is, I believe, using the original geologist so they probably have a very good idea that they have something viable: The drilling results could be worth a fortune - or not!


----------



## 123enen (17 April 2006)

Thanks for the answers.
BUT this is the one that really confuses me.
2.5M oz * US$450/oz (at the time of sale)
Why did the previous owners sell a US$1Billion gold resource for $6 million

I understand lack of interest in the U resource at the time - but that much gold. It doesn't make sense. This is my missing link even though I hold stock.


----------



## kariba (18 April 2006)

rederob said:
			
		

> kariba
> Thanks for the infill post - I tried to keep mine simple




No worries Rederob

It was just but your mention of "reserves" as the next step, is in fact way down the line - reserves are determined at FS & BFS stage.

So what Nizar had asked:* From my understanding, the drilling by AEX now is to convert the Inferred JORC resource into Indicated  categories... is that right?* .... is correctly the next step.

I was not trying to be pedantic or anything, its just that upgrading the resource to "Indicated" wil be HUGE!   It will be the step that grabs the attention of serious players, indicationf that DD is the "real deal."

Everything set in place for a very exciting next 12 months

regards


----------



## kariba (18 April 2006)

123enen said:
			
		

> ...this is the one that really confuses me.
> 2.5M oz * US$450/oz (at the time of sale)
> Why did the previous owners sell a US$1Billion gold resource for $6 million
> 
> I understand lack of interest in the U resource at the time - but that much gold. It doesn't make sense. This is my missing link even though I hold stock.




Hi 123enen

We could ask many similar questions of other situations ie:

Why did Aztec sell LH to Paladin for the cost of a cut lunch?  
Why did Rio hand over Sepon to OXR - for a wee bit more? : 
Why did .....?

Then consider, $6 milion is a fair bit of money, even when dealing with big resource deposits. Then there is the royalty on the gold, and shares alloted etc.

Then think too, how much did Savanna pay for it - I reckon they got it for next to nothing. They did enough to get it to JORC inferred status & then did what they probably always intended to - sell it for a big profit. 

I am realistic too! I am positive there will be a "disclaimer" to DD! It wont be a cakewalk to mine the resource! For example, a quote from one geo on the challenges associated this South African gold mining:

_"Problems with the placer model for genesis of the Witwatersrand-style gold include the lack of Fe oxides but abundance of pyrite, unusual sulfides in the reefs, detrital transport of uraninite grains, the inference of hydraulic equivalence of reef minerals, and the source of the gold itself. Other features not predicted by the current placer model are mineralization in the immediate footwall of the reefs, apparent structural control of payshoot orientations, and basinwide chemical associations."_

Lets face it - If it was easy to take 31.5m tonnes of U3O8 & 2.5moz of gold out of DD, they would have done it already!!! So what's changed? Why has the gold suddenly come into the equation? IMO, simply put: increased commodity prices! When AEX purchased DD, U3O8 was about US$25p/lb - Now: $41p/lb - Gold then:$420 p/oz - now: $600+! .....And both rising. What might have been marginally economical in early 2005, is now VERY much so, especially when one is mined as a by-product.

Caution is always warranted - but the picture looks very good IMO.  

cheers


----------



## 123enen (18 April 2006)

Hi Kariba,
Excellent. Thank you very much


----------



## Fab (11 May 2006)

Should I translate the above comments as AEX is a stock with a lot of possible prospect but really nothing to deliver at the moment. Which makes me think this is like having a punt on a company that can not deliver anything at this stage. A bit risky isn’t it ?


----------



## Sean K (11 May 2006)

Anything with 'Exploration' in the title is probably a little bit risky. Don't bet the house on it, but a little punt on this could have a big return. 

I've been trading this stock for a while (since 1996!) and am excitied about the DD prospect. 

The stock has recovered very well from historic lows of around 2.3c and has had some consistent volume pushing it up over the past 4 months. Recovered well from hic up in April and looks to be climbing again. 

It's worth doing some reseach on this. Any good news out of DD could be great for the SP as there's a lot of people looking for the next viable PDN.


----------



## Fab (11 May 2006)

Thanks for your feedback. Then why do you believe AEX will be the next PDN ? I have to say at around 6 c it is quiet attractive to have a punt on it.
I am just a bit worry that I might have to sit on it for a long long time . Like you did I believe


----------



## Sean K (11 May 2006)

I'm not saying it could be the next PDN but that's what the market is chasing at the moment. Anyone who has a potentially massive resource of U3O8 in a country that actually lets you dig it up will draw huge interest. 

If the inferred resource is proven, then I HOPE it could be something like PDN. Then, I will be able to pay off my credit card. And buy a yacht and sail around the world.


----------



## Fab (11 May 2006)

That’s my aim too 
How long does it take to go throught the inferred resource process ? Any date when this should be done by ?


----------



## Sean K (11 May 2006)

They are drilling this quarter. So, news should come through any time in the next 3 months. Hopefully May! 

Have a read of their last Quarterly Report dated 31 March for more info.


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## MoMoney (11 May 2006)

oppies cheap tommorow morning! excellent buy/hold,  expire june08 @ 5c!!!!
if aex appoint experienced GEO, and confirms and upgrades known reserves at DD....Kk Boom!!!!!!!!


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## Sean K (11 May 2006)

It's a shame they didn't keep their old Geo who was around when the company was called 'Acclaim Uranium'. I think he went to Redport. Funny how the world turns. Those oppies look like a steal if DD is what the historical reports say is even close to true.


----------



## Fab (12 May 2006)

What is happening with this stock it has been going up in large volume these last few days ?


----------



## surelle (12 May 2006)

Fab said:
			
		

> What is happening with this stock it has been going up in large volume these last few days ?




if you hold...do you care?


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## Sean K (12 May 2006)

A couple of % rise and 20M shares a day for last 5 days reads good support and possible news to me. They are due to report on DD drilling soon.


----------



## surelle (12 May 2006)

kennas said:
			
		

> A couple of % rise and 20M shares a day for last 5 days reads good support and possible news to me. They are due to report on DD drilling soon.




and we wait, and we wait....and we wait (hopefully for some good news)


----------



## crackaton (12 May 2006)

**** from the past:
ACCLAIM EXPLORATION NL 1997-10-31 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
ACCLAIM URANIUM NL (ACCLAIM EXPLORATION NL 71% DILUTING TO 30%)

Incorporation of Acclaim Uranium NL (Acclaim Uranium) On the 15 May
1997, the Board of Directors of Acclaim Exploration NL announced the
transfer of the uranium prospects held by the Company to a wholly
owned subsidiary called Acclaim Uranium NL (ACN 078 548 562). The
assets were transferred at cost being approximately $200,000.

LODGEMENT OF PROSPECTUS

On 1 August, the directors of the Company announced that Acclaim
Uranium had on that day lodged a prospectus with the Australian
Securities Commission to raise $5,000,000 by the issue of 25,000,000
fully paid ordinary shares at 20 cents each with 1 attaching option
for no additional consideration for every 2 shares subscribed. The
options are exercisable at 20 cents at any time on or before 30
September 2000. The prospectus allows over subscription of 5,000,000
shares (together with attaching options as mentioned above) to raise
a further $1,000,000.

INDEPENDENT GEOLOGISTS VALUATION

The prospectus lodged contains a valuation of Acclaim Uranium's
uranium prospects with a preferred market value at 1 August 1997 of
$6,949,000.

APPOINTMENT OF FAR EAST CAPITAL LIMITED AND LODGEMENT OF
SUPPLEMENTARY

PROSPECTUS

On 26 September 1997, Acclaim Uranium NL lodged a supplementary
prospectus with the Australian Securities Commission.

The Supplementary Prospectus was dated 26 September 1997 and
contained particulars of a change to the prospectus of Acclaim
Uranium NL dated 1 August 1997.

On 26 September 1997, Acclaim Uranium NL entered into an agreement
with Far East Capital Limited (FEC) for the provision of corporate
advisory services in connection with corporate strategy, funding and
investor relations for a period of two years from the date of the
agreement.

The Directors of Acclaim Uranium NL believe that FEC has the capacity
to assist with the capital raising set out in the Prospectus and to
assist the Company over the next 2 years to grow through corporate
development and acquisition as well as through exploration and
development of the Company's portfolio of uranium prospects.

FEC specialises in the identification and support of emerging
resource companies by providing finance, strategic corporate planning
advice and details research facilities. It was responsible for
successfully underwriting Anaconda Nickel in 1994. Anaconda Nickel is
currently developing the $1 billion Murrin Murrin laterite nickel
project near Leonora.

FEC will undertake to complete Acclaim's Initial Public Offering
(IPO) and provide corporate services for the next two years. These
services include promotion of Acclaim, identification of new
properties and prospects, assistance with developing these properties
and additional capital raising as it moves towards production.

CLOSE OF ISSUE AND ALLOTMENT OF SHARES

The offer of securities under the prospectus closed on 17 October
1997. The shares and options, subject of the issue, were allotted on
24 October 1997. Uncertificated holding statements have been mailed
to security holders.

APPLICATION FOR ADMISSION TO THE OFFICIAL LIST OF THE AUSTRALIAN
STOCK EXCHANGE

On October 23 1997 Acclaim Uranium NL received conditional approval
for the Company to be admitted to the official list of the Australian
Stock Exchange. The shares and options of Acclaim Uranium are
expected to be quoted as from Thursday 6 November 1997.


----------



## Sean K (12 May 2006)

Crack a ton, 

Wern't all the uranium tenaments subsequently handed to Redport? Or, is Redport a spin off of Acclaim? I thought the Acclaim geologist who was a U3O8 guru then formed Redport or something. Any clues? 

Bit of a travelling wilbury this company isn't it. I'm surprised they didn't put a dot.com after there name in 98/99!

Nonetheless, DD is there!

Kennas


----------



## crackaton (12 May 2006)

Redport [ RPT ] had tennenaments Langer Heinrich that were sold to paladin. They receive a royalty. This is very bizzare, and something is up with AEX. Perhaps they finally got their act together? Who knows?


----------



## Sean K (12 May 2006)

RPT also have Lake Maitland in WA which has U3O8 by the ship load, but the Labour Party have this almost impossibly insane 3 mine policy. Allow 3 but not say, 4, or 5? Really crazy stuff when you think about it. You can't be half pregnant. Anyway, I thought this tenament and the rest of RPTs used to be AEX's as well. I'm holding both just in case the Labour Ministers grow brains, and uranium is used a bit more for energy one day.


----------



## crackaton (12 May 2006)

kennas said:
			
		

> RPT also have Lake Maitland in WA which has U3O8 by the ship load, but the Labour Party have this almost impossibly insane 3 mine policy. Allow 3 but not say, 4, or 5? Really crazy stuff when you think about it. You can't be half pregnant. Anyway, I thought this tenament and the rest of RPTs used to be AEX's as well. I'm holding both just in case the Labour Ministers grow brains, and uranium is used a bit more for energy one day.



Good move. Perhaps with luck they will abolish state governements alltogether. And yes AEX used to have that tennement to my understanding.


----------



## kariba (13 May 2006)

kennas said:
			
		

> Wern't all the uranium tenaments subsequently handed to Redport? Or, is Redport a spin off of Acclaim?




Just some clarification:

Over the years AEX aquired a number of good projects

1] Later the uranium projects were spun out into Acclaim Uranium (AIU), a new company that would focus on uranium. 
2] Then, gold & precoius metals were spun out into Fox Resources

After the float AEX & AIU went their separate ways. AEX's shareholding in AIU was distributed to shareholders & the two ultimately had no connection other than the original spin-off. AEX then went to focus on Wingalinna & Claude Hills.

In the meantime AIU added to it's Nowthanna Deposit by purchasing Lake Maitland, Millipede & then the Langer Heinrich deposit. It now had a massive resource base. BUT, half was in WA (no U mining) & LH had metalurgy problems. Then as the U price continued to plummet, AIU changed gave up, it's name to Aztec Resources (AZR), and began to change it's focus to iron ore at Koolan Island, A year later Aztec sold/gave LH to Paladin. :swear:  The other projects were allowed to lapse as there was no value in them!   These were later picked up by other companies including Redport.

At the time of the Langer H sale they both had an entirely new & different board, and each had a focus on a new main project. Interestingly the new chairman/director of AEX then was Ed Eshuys (now of St Barbara fame).

The current board of AEZ is different again to that of 2002! So we have a different company & a new project - DD. All we need now is the new director/geo & we are off on a new ride

cheers


----------



## rederob (13 May 2006)

kariba
A great potted history - many thanks.
I hold a few AEX and have been trying to pick up options on a retrace, without luck!
While I am hopeful of a good result from present drilling, I am not expecting early results unless they are more on the spectacular side, rather than "robust".
I sold RPT to buy AEX, so given the price difference I should be able to pick up quite a few.


----------



## Sean K (14 May 2006)

With uanium on the agenda during the PMs visit to the US, I'd expect both of these to be of interest on Monday. Looks like nuclear enegy for Australia could be an election issue which should drive all share prices up. Time to buy some more perhaps.


----------



## Fab (20 May 2006)

Hi,

I am interested in buying in this company purely because I can buy a lot of them at a cheap price and it is involved in Uranium exploration. I know this is probably not the way how to buy.
Also it looks like the share price has been moving quite a lot.
I would appreciate if someone who knows about this stock could let me know what they think about its potential.

Cheers


----------



## rederob (20 May 2006)

Fab said:
			
		

> Hi,
> I am interested in buying in this company purely because I can buy a lot of them at a cheap price and it is involved in Uranium exploration. I know this is probably not the way how to buy.



You are correct on all three counts.
Therefore you can wisely spend every dollar you own to buy AEX shares and test your ideas more thoroughly.
Alternatively, when AEX's drilling results are "known", review your strategy and see if you would prefer to buy then rather than now.
Or buy now and see how speculation treats you.


----------



## crackaton (20 May 2006)

rederob said:
			
		

> You are correct on all three counts.
> Therefore you can wisely spend every dollar you own to buy AEX shares and test your ideas more thoroughly.
> Alternatively, when AEX's drilling results are "known", review your strategy and see if you would prefer to buy then rather than now.
> Or buy now and see how speculation treats you.




lol It's an even way bet see what happens. Oil isn't going to solve the worlds energy crisis. Uranium may for a while.


----------



## Fab (20 May 2006)

Ok. Thanks for your comments. When are AEX drilling results due to be released ?


----------



## Sean K (20 May 2006)

fab,

You can get a bit of info by tracking this thread and also look up their previous resports on the asx web site. Also try their web site for info.

www.acclaimexploration.com.au 

With Little Johnny waving the nuclear fuel flag around the world there could be a lot more interest in uranium stocks next week.

This stock is not a sure thing, as you tell from it's sp. Let's face it, if the resource at DD was guaranteed, the stock would be trading at a few bucks. With the information we have available to us on the project, it looks to be a pretty good bet. But don't put your house on it!


----------



## rederob (20 May 2006)

Stop the presses!
I just heard that bomber Beazley was going to review the "3 mines" policy at the next ALP conference.
Was I drinking too much and have been listening to a comedic farce?
And is there any difference between the two?


----------



## crackaton (21 May 2006)

rederob said:
			
		

> Stop the presses!
> I just heard that bomber Beazley was going to review the "3 mines" policy at the next ALP conference.
> Was I drinking too much and have been listening to a comedic farce?
> And is there any difference between the two?



That's right. And now is the time to get into some aussie U stocks. I've been looking at AAR anyone know of some other good ones?


----------



## michael_selway (21 May 2006)

crackaton said:
			
		

> That's right. And now is the time to get into some aussie U stocks. I've been looking at AAR anyone know of some other good ones?




why ia AAR any good?

thx

MS


----------



## Sean K (24 May 2006)

DD update out but pretty lame.

The site is being prepared for the drill rig and a bulldozer has arrived. Whoopee! 

Encouragingly though, support from the local tribe seems assured.

The site will be ready in 7-10 days for the drill rig when more info will be provided. 

Should start to get interesting from here.


----------



## LPA (29 May 2006)

So do you think that news of the drilling actually beginning for real in a week or two will boost the SP a little?  

Also, how certain are they of the amount/quality of the deposits before drilling? I presume that they know for sure that something is there but just not how much and how good it is...is this correct?


----------



## rederob (29 May 2006)

LPA said:
			
		

> So do you think that news of the drilling actually beginning for real in a week or two will boost the SP a little?
> 
> Also, how certain are they of the amount/quality of the deposits before drilling? I presume that they know for sure that something is there but just not how much and how good it is...is this correct?



LPA
*They drill because they do not know*.
You are right; if they knew, they would not need to drill and could save time and money!
They do know there have been previously identified gold/uranium results, and these are tabled at the AEX website.
We need the results to have an "upside surprise" and then the share price is on a rocket.


----------



## nizar (29 May 2006)

LPA said:
			
		

> So do you think that news of the drilling actually beginning for real in a week or two will boost the SP a little?
> 
> Also, how certain are they of the amount/quality of the deposits before drilling? I presume that they know for sure that something is there but just not how much and how good it is...is this correct?




The current resource they have is "inferred" ie. the weakest, very low probability that the figure is accurate, could be (much) more, could be (much) less

They need to do more drilling to move it into the "indicated" categories, the next step up


----------



## rederob (29 May 2006)

nizar said:
			
		

> The current resource they have is "inferred" ie. the weakest, very low probability that the figure is accurate, could be (much) more, could be (much) less
> 
> They need to do more drilling to move it into the "indicated" categories, the next step up



nizar
I do hope they move it to "measured" - to be sure, to be sure!


----------



## Sean K (30 May 2006)

There has been plenty of support for the stock at around .05c. Seems people are holding on just to see what happens with DD. 

Still, it's .05c! No one can be that confident that it's a winner. The company has disappointed many over the past few years. Surely selling LH to PDN was a slight error! 

Even if the resource becomes 'measured' there's a long way to go before anything is dug out of the ground. 

I am taking a punt on this one and will buy into any more dips below .05c. The potential return will be well worth it.


----------



## jemma (30 May 2006)

I sold down to a core holding of 1 million Kennas.

Drilling may start in 3 days, big deal.

It won't start for much lonher IMO as they never stated it would start only they have a camp set up.

Never undestimate delays and how costly they are to a stock, the results as per EXT's time frame for assays are 3 months. A loooooooong time to trade this and make money with ease.

I will be buying this back at 4.1 and 3.7 in 4 weeks time once the 2nd wave on the overall market happens again.

Good luck.


----------



## jemma (30 May 2006)

Kennas the announcement of drilling does nothing for stocks in the short term. If you believe it does, please provide an example. What prospective holders want are assay results and a timeframe for them to be provided to the market. In the meantime, a few are trading percentages.


----------



## champ2003 (30 May 2006)

Pure speculation is a good example at the moment and that should support the share price IMO.


----------



## rederob (30 May 2006)

jemma said:
			
		

> I will be buying this back at 4.1 and 3.7 in 4 weeks time once the 2nd wave on the overall market happens again.



My plan is waiting out the 4 weeks first and seeing what they might report by way of progess.
I get a bounce of 3.6cents, so if we are near there at end June, I might just buy more too.
I see AEX as a risky play for the speculators right now as downside risk short term might outweigh upside.


----------



## champ2003 (30 May 2006)

I would have thought that with the drilling results coming out in the next 1.5 months that that would be enough to keep the price high and go higher?

Why do you think there is a downside Rederob?


----------



## Sean K (30 May 2006)

The short term chart doesn't actually look very good at all. Most commodities have recovered slightly (inc species) but AEX has slid to .05c and held there. Needs to get back to .055c. 

Agree to some degree on the influence of 'big news' about the commencement of a drilling program, but I do remember recently that the presence of a certain Chinese leader prompted U3O8 explorers to rocket 20% and more, even if they didn't have a resource! There are probably other examples but I have drunk too much wine to be bothered looking tonight. Will try and find something for you tomorrow Jemma.


----------



## dj_420 (5 June 2006)

Why is it that AEX has an inferred resource of 11 000 tonnes of uranium and its sp is around 0.045?? other companies for example EXT have no inferred resource yet the SP is at 0.10 and also their number of shares on issue is almost twice that of AEX. 

Also AEX has a larger inferred resource than many companies who are purely uranium exp and have found nothing. 

Is this because market has overlooked AEX or are they waiting for inferred resource to be moves up to indicated???

IMO as soon as this move takes place the SP should head north immediately because:

1 - they have found a identified uranium resource and are currently drilling to move it to a indicated resource status

2 - they have new mgt which have credible mining background

3 - they have around 550 million shares on issue which is less then other uranium companies with much smaller resources or none at all whose share price is much higher

4 - they are mining in a uranium friendly country, ie aust still has 3 mine policy issue going on


----------



## Sean K (5 June 2006)

Good points cathers. Or Cath. There are several reason why others are rated higher. AEX's past results, past management failures, numerous reincarnations, no major backers, etc have all played a role. 

IMO they are likely to have some type of resource proven at DD, it's just a matter of size. Imagine if it was larger than the current inferred resource!

If it comes in close to the initial exploration results it's the next PDN. Should be another statement coming out this week about progress at the site.


----------



## nizar (5 June 2006)

cathers_420 said:
			
		

> Why is it that AEX has an inferred resource of 11 000 tonnes of uranium and its sp is around 0.045?? other companies for example EXT have no inferred resource yet the SP is at 0.10 and also their number of shares on issue is almost twice that of AEX.
> 
> Also AEX has a larger inferred resource than many companies who are purely uranium exp and have found nothing.
> 
> ...




Management is the key reason why the share price is not higher and is wat is stopping some investors from putting their money in AEX

Its a pity that it took ages for them to reveal their new U director, and when they announced it, we were going through a correction


----------



## jemma (5 June 2006)

Nizar,

You are 100% correct here, I wouldn't touch this company until it has proven itself first, the management are as dodgy as they come.

Prove yourself first, buyer beware.

Compare AEX with DYL and EXT management experience and there is no comparison.

By the way Kennas, you will be waiting 6 months from initial drill to assay, just look at EXT for proof. Also they have no even secured a rig yet and may not drill for another month, by which time the price will be sub 4 cents.

Only good for a trade with money you are happy to lose.


----------



## Sean K (5 June 2006)

Jemma, I think they said in their last statement that they'd found a rig laying about somewhere and that it was being delivered sometime this week. 

Now waiting for the news which will be announced imminently. Might give the sp a little perk, pending general market excitability. 

My average cost for these is .039c so I'm excitied about the possibilities, prepared for the pain, and hope management have been back at school recently to learn about digging stuff out of the ground.


----------



## dj_420 (5 June 2006)

OK so its mgt thats affecting the sp. with new mgt under the helm would good results from here on in help, i mean if new mgt can actually prove themselves would this give the SP a boost??

for example CTO have obviously had monumental mgt issues during the past few years, ie sitting on 10 mill ounce goldmine and have not begun mining for at least three years. however now they have got act together sp took off from around 20c to peak around 50c.


----------



## dj_420 (6 June 2006)

Did a bit of research on new director Trevor Gillard at AEX

in addition to the previous ann can add that:

Over 25 years experience in the mining and financial services industries in South Africa covering exploration, mine geology, investment analysis and project management.

Trevor worked as a geologist for six years in coal exploration with Anglo American and 3 years in gold mining at Vaal Reefs and Blyvooruitzicht - deep level operations in South Africa. 

He began a career in financial services as a mining analyst with Standard Merchant Bank and Liberty Asset Management before moving into stock broking with Fleming Martin. The latter involved analysis of companies operating in west, east and central Africa. 

Since 1998, Trevor has worked in New Mining Business with JCI and as a consultant involving gold, base metal and diamond projects in South Africa, Mozambique, Peru, Romania and Kazakhstan.

Employed by AIM resources in recent years as senior mgt, as well as working with Snowden as a consultant, Snowden mining consultant company have high profile list of customers including bhp, rio, zinifex, newcrest mining.

In summary Trevor has extensive experience with South African mining ventures and hopefully has the goods to turn AEX reputation around, and produce some good results. Any comments??


----------



## Sean K (6 June 2006)

So Trev is just a Director? I thought someone said there was new 'management' on board. Oh well, a Director who has dug some holes is a good start. Perhaps now that this company has some definite potential a few worthwhile managers might jump on board to get some cheap options.

Looking forward to some news out of DD this week! Hopefully on an 'up' day for the ASX. And at the same time that Ziggy tells us 'U3O8 is a go!'.


----------



## laurie (7 June 2006)

> In summary Trevor has extensive experience with South African mining ventures and hopefully has the goods to turn AEX reputation around, and produce some good results. Any comments??




Well no matter how good he is if the stuff is not there then that's it! NOW if it is there then yes his experience will come to the forefront and that's where he will start to earn his pay packet   

cheers laurie


----------



## dj_420 (7 June 2006)

Sorry kennas my mistake, i was under this impression as Trevor has come from a senior management position in AIM. Under AEX Trevor Gillard has been appointed a new director, replacing Don Head who was there during the past when controversial decisions were made by the board. 

Also what news was there that AEX were able to obtain a drill rig? if they can fast track further drilling we may begin to see some action

We may start to see movement in uranium shares however i think most movement will be seen from uranium companies holding tennements within australia seen that the 3 mines policy will be reviewed. 

What uranium companies in Aust will see the most benefit from a review of this policy?? in other words what companies have large uranium resources that arent currently able to mine due to policy??


----------



## jemma (7 June 2006)

cathers_420 said:
			
		

> Sorry kennas my mistake, i was under this impression as Trevor has come from a senior management position in AIM. Under AEX Trevor Gillard has been appointed a new director, replacing Don Head who was there during the past when controversial decisions were made by the board.
> 
> Also what news was there that AEX were able to obtain a drill rig? if they can fast track further drilling we may begin to see some action
> 
> ...




If you have any brains, you would already own DYL.


----------



## Sean K (7 June 2006)

Some people have brains and don't have DYL!

Unfortunately, I have brains, _and _ have DYL. Been barking lately!

Uranium could be the next dot.com, if things don't go right for us.

The future industry is far from proven. It's still a punt. Like life!


----------



## laurie (7 June 2006)

11,000t of JORC U would be a mininum requirement and at least 0.02% grade before you can mine it and that's approx $1Billion worth spread over ten years  

cheers laurie


----------



## Sean K (8 June 2006)

Cathers, the company's last 2 announcements say that they found a rig and it was going to be in place this week. 

Laurie, In 2002 Mabex Consulting Geologists provided an 'inferred' resource which AEX are working to get indicated and measured. The 'inferred' resource is:

Tonnage /       Grade /        Width /   U3O8
31.5M tons /       0.35 kg/t /  1.0 /      11.025

Tonnage /      Grade /       Width /    Au
31.5M /               2.5 /           1.0 /       2.5

If measured, does that translate into a viable mine?


----------



## dj_420 (8 June 2006)

Kennas, i think if that inferred resource can be converted into measured just at those rates it would be extremely viable. as it stands 

11 000 tonnes of uranium = 24 200 000 pounds
= 1.0648 billion in ground value

if companies with twice AEX number of shares found a resource this size it would shoot their sp to the moon

i think market has overlooked AEX due to past problems and once converted into measured then head north immediately


----------



## champ2003 (9 June 2006)

I've seen another site stating that the u grade for DD is .03%U so i'm not so sure that .35%U is that accurate?

It actually states :
Denny Dalton uranium/gold project 
Size: 9350 tonnes U
Ore grade: 0.03% U

http://www.wise-uranium.org/uoafr.html


----------



## laurie (9 June 2006)

The point you all got to remember is the INITAL inferred resource is the reference point for BFS it happened with PND then they upgraded their inferred resource with further drilling which was icing on the cake also ERA & WMC cut off point was 0.012% when prices was low   

cheers laurie


----------



## laurie (9 June 2006)

ACCLAIM EXPLORATION N.L.
ABN 99 009 076 233
09 June 2006
Companies Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
Sydney NSW 2000
Denny Dalton – Market Update
The company is pleased to announce that site works at the Denny Dalton mine site have been completed.
Representatives from Caracle Creek International Consulting Group, the drilling contractor and Company Director Mr Trevor Gillard attended meetings onsite to discuss the drilling program and have completed the identification of proposed drilling targets.
It is proposed that the first program will consist of 11 drill holes.
On completion of the initial program an assessment will be undertaken to carry out a program to establish an extension to the known mineralisation.
The Company is awaiting advice from the drilling contractor on a date for the commencement of drilling.
The Company believes the Denny Dalton deposit has immense potential to produce a gold and uranium resource. In addition to the proposed drilling program, the next stage of the project will be to complete a detailed geological map of the area and to gain as complete an understanding as possible to the distribution of the gold and uranium in this ancient fluvial environment.
Yours faithfully
Neville J Bassett
Secretary
Suite B 150 Hay St Subiaco Western Australia 6008
Telephone: + 61 8 9388 8436 Facsimile: + 61 8 9388 8450


cheers laurie


----------



## rederob (9 June 2006)

jemma said:
			
		

> I will be buying this back at 4.1 and 3.7 in 4 weeks time once the 2nd wave on the overall market happens again.



How many I wonder?
I'm still happy with my 3.6cents price proposal, but concede a touch lower is possible.


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## Sean K (9 June 2006)

The 0.35kg/tn I presented above is from the company statement. I'm pretty sure I copied it correctly. 

I think there should be technical support around 0.038c mark. I'll be buying some more. Now they're actually on site and will be drilling holes, this could do ANYTHING. It could be an empire maker for those with a big stake. Or, you'll lose some beer money.


----------



## nizar (9 June 2006)

kennas said:
			
		

> The 0.35kg/tn I presented above is from the company statement. I'm pretty sure I copied it correctly.
> 
> I think there should be technical support around 0.038c mark. I'll be buying some more. Now they're actually on site and will be drilling holes, this could do ANYTHING. It could be an empire maker for those with a big stake. Or, you'll lose some beer money.




as per 2days announcement; drilling actually hasnt started

but agree this could potentially fund a very nice retirement; if say in 3-4 years time, they start producing 200koz gold and 2million/lb uranium year... $2+... no1 believe u wen u say u bought for under 5c


----------



## champ2003 (10 June 2006)

I hope you are right however you have to read between the lines to sort through all the crap. Admittedly the figures that AEX state for their inferred resources look fudged as the figures are far too neat which makes me believe that it's going to be very different upon drilling results.

Good luck to those who hold.


----------



## snopig (14 June 2006)

Hit a low of 3.5 yesterday.

Where to from here with AEX??


----------



## Sean K (14 June 2006)

Everything will keep going down until the market settles and the Fed has made it's announcement one way or the other. Hopefully it's good news. The market seems to be factoring in higher interest rates right now, which may be the case. But if not, relief. I hope. 

So, when everything settles, I think people will look back to AEX. There's just no new money going into the market right now.


----------



## snopig (14 June 2006)

U308 $45 up $1


----------



## Sean K (14 June 2006)

Yep, U3O8 and Oil have held up pretty well. DD won't be a mine for a while though. The U3O8 price is going to be very good for the likes of BHP and soon PDN!


----------



## rederob (14 June 2006)

Still no word from Jemma!
My bid is in for 2.8 cents - maybe won't be lucky this time, but my original entry was at 2.3 cents in January, so we shall see.......


----------



## snopig (14 June 2006)

Hope it doesnt go that low. Im keeping my fingers crossed that its on its way up from here.


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## Sean K (18 June 2006)

Hey AEX follows!

Found good support at .038c and moved up well on volume to current .042c.

.04c seems to be a definate short term support line, but could be just response to general market sentiment. And, as such, any further correcting will drag the price back down perhaps.

Importantly though, it's moved back up through 200d MA which it crossed briefly at .037c. But only briefly!  

With the company now positioned to actually start drilling to confirm the inferred resource at DD it should be an interesting time for Acclaim.  

Looking forward to more updates on this.


----------



## crackaton (18 June 2006)

Fingers crosssed kanna. I've heard some rumours that things might be better than first thought, but we will see. Anyway, its worth chucking 4 or 5 K on it if you can spare the cash. VERY SPECULATIVE but could prove the goods. Cheers.

p.s don't blame me if it tanks ok.


----------



## Sean K (18 June 2006)

I won't blame you mate. I have 8K on it already but might double up depending on the market and their announcements. Wish I knew the geologist! Or, better still, perhaps we should go and camp at the site and see how it progresses first hand? Kwa Zulu Natal is a nice place.


----------



## crackaton (18 June 2006)

kennas said:
			
		

> I won't blame you mate. I have 8K on it already but might double up depending on the market and their announcements. Wish I knew the geologist! Or, better still, perhaps we should go and camp at the site and see how it progresses first hand? Kwa Zulu Natal is a nice place.



Not a bad idea. Wonder if Joe could sponsor an ASF field trip there? lol


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## nizar (18 June 2006)

I think EXT is gonna release results pretty soon... theyve been drilling for a while already...

AEX is good... made me a lot of money.... but i dont think we will news for a while from them, they havent even started drilling yet...

But the potential here is enormous; wat a shame about the management team though


----------



## snopig (25 June 2006)

Has anybody heard any updates on when AEX are going to start drilling?


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## Sean K (25 June 2006)

snopig, the drill rig was supposed to arrive on site last week. They then need to unwrap it and have a few beers to celebrate. Then, hopefully, they've got some people to operate it! 

So, drilling this week or the next. 

Expect an announcement to say that they have actually turned the machine on, and it works, by the end of the month. 

Price back down below .04c. How cheap is that for the POTENTIAL!  

Enough ramping....


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## rederob (25 June 2006)

kennas said:
			
		

> Price back down below .04c. How cheap is that for the POTENTIAL!



That's still too expensive.
I'm still looking at nearer to 3 cents.
The charts tell me a dip to 3 cents means it will bounce, and I am reasonably sure of a very strong bounce.
A bid at 2.8cents would be a bargain.
But then I am not always lucky at the bazaar!


----------



## sangshim (25 June 2006)

rederob said:
			
		

> That's still too expensive.
> I'm still looking at nearer to 3 cents.
> The charts tell me a dip to 3 cents means it will bounce, and I am reasonably sure of a very strong bounce.
> A bid at 2.8cents would be a bargain.
> But then I am not always lucky at the bazaar!




Agreed..
They recently issued new shares at 2.2c. (am i right?)
4c is still too expensive unless there has been huge change in last few wks.
2.8~3.2c range sounds reasonable price to enter... imo.


----------



## sangshim (25 June 2006)

From last qtr activities report..

--------------------
During the quarter the company completed a capital raising through the placement of 69,113,654 ordinary fully paid shares (together with 69,113,654 free attaching options exercisable at 5 cents on or before 30 June 2008) at an issue price of 2.2 cents per share, thereby raising $1,520,500.
--------------------

Fully paid ordinary shares with 5c options was issued at 2.2c...
4c sounds too expensive.


----------



## kariba (28 June 2006)

New website now out - worth a look!

Cheers


----------



## kariba (28 June 2006)

kariba said:
			
		

> New website now out - worth a look!
> 
> Cheers





Ps. - Have a look at pictures 3 & 4 - Drillers onsite???

Also: Tax loss selling looks to be drying up - set to rise from here IMO. July looks as tho it could be a good month

cheers


----------



## Granny (28 June 2006)

kariba said:
			
		

> Ps. - Have a look at pictures 3 & 4 - Drillers onsite???
> 
> Also: Tax loss selling looks to be drying up - set to rise from here IMO. July looks as tho it could be a good month
> 
> cheers





yes most impressive. One native and two utes. Looks like these guys means business. lol

http://www.acclaimexploration.com.au/images/gallery/site_images/driller_two.jpg


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## Sean K (28 June 2006)

They're fairly new utes but...  

I like that they can't spell uranium in the title caption.

'Gold and Unranium Mining'   

Go Acclaim!


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## Granny (28 June 2006)

I sent them an email with the correct spelling. You gotta wonder though....


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## Sean K (28 June 2006)

Drilling!....seems they are going to announce every move atm. 

Lets see what the sp does once the announcement can be read...


----------



## moses (28 June 2006)

I wonder what a web cam would do for some of these companies...


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## Sean K (28 June 2006)

I'm not sure if it would value add to AEX. They have a history of cocking things up. We'd probably see The Three Stoogers running around slapping each other on the face...Or Benny Hill running around in fast motion.


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## snopig (28 June 2006)

Drilling has commenced. Lets see where they go from here


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## laurie (28 June 2006)

Remember this drilling is to *CONFIRM* existing resource! if they find more then that's the cream that would rocket the price to .20c+   

cheers laurie


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## Sean K (29 June 2006)

Good action today. Up 10% at last look on 7M volume. 

Found support at about the .038c (200d MA) level and bounced. 

Next upward resistance around .05c, so room to move. 

.035c should be it's lowest point on chart during this phase, if market turns negative.


----------



## jemma (29 June 2006)

laurie said:
			
		

> Remember this drilling is to *CONFIRM* existing resource! if they find more then that's the cream that would rocket the price to .20c+
> 
> cheers laurie




Keep dreaming.


----------



## Sean K (29 June 2006)

Come on Jemma, it's a $5.00 stock just waiting to happen.


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## laurie (29 June 2006)

jemma said:
			
		

> Keep dreaming.




Yep it's my money   I've got that much to throw around I'm getting bored   

cheers laurie


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## snopig (30 June 2006)

Hit 4.5 up 9.8%


----------



## surelle (30 June 2006)

snopig said:
			
		

> Hit 4.5 up 9.8%




don't get too excited it's only just opened and it's Friday - strange things happen on Fridays


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## Sean K (30 June 2006)

It's broken out on the charts.

Wish I knew how to bloody paste it in! Help GP!


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## laurie (30 June 2006)

kennas said:
			
		

> It's broken out on the charts.
> 
> Wish I knew how to bloody paste it in! Help GP!




you don't paste it in its uploaded from your folder where you have a copy of the chart

cheers laurie


----------



## snopig (5 July 2006)

Whats everyones thoughts on AEXO (Acclaim Exploration Options)? 2c today down 9.1% could be a good buy. These expire June 2008 and aree for AEX at 5c.


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## jemma (5 July 2006)

As I said keep dreaming, but no-one is listening. Looks at management, dodgy as they come.


----------



## snopig (6 July 2006)

What am I dreaming about??

Im taking it by this reply and others which you have posted in the past that you are not a holder and probably never will be


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## Sean K (6 July 2006)

Jemma has all her cash parked in EXT which is an alternate to AEX so she doesn't want people thinking AEX is a good stock.   

Those options could be a good punt. I don't think buying something just because it goes down is necessarily a good tactic though. Make your own assessment of the potential of the company and what value it's shares might be and buy according to that. 

A factor to consider with uranium atm is whether the Labor Party is going to change it's 3 mine policy in Australia. Recent polls suggest Labor might win the next election   which means they're in a better position to maintain their 3 mine policy. That would gazump the sp of all hopefull Australian based U3O8 miners. AEX would then be looking even better!!!!


----------



## snopig (6 July 2006)

Thanks for that Kennas. I noticed that Jemma had been posting quite a bit on the EXT thread so I figured that would be the reason for her negative approach towards AEX.

Holding a few options at the moment anyhow but you have given me a bit of food for thought.

Cheers.


----------



## dj_420 (6 July 2006)

I hold both AEX and EXT. I think market sentiment towards AEX has begun to turn around SP has been steadily increasing. AEX has a uranium deposit whereas EXT does not. AEX only has to turn this into measured and its blue sky. I think this negative attitude will soon disappear when they show the goods.


----------



## Sean K (7 July 2006)

AEX going to release statement on a 'royalty' at DD. Interesting.


----------



## Sean K (7 July 2006)

After reviewing the announcement, I am more positive about the decision to buy out the potential royalty to the previous owner of DD. This is surely a sign of managements confidence in the project actually containing the inferred resource previously established? For whatever reason the general market wasn't that extatic about it and took it from a 2% gain to a 2% drop. Still, on the chart, it's looking short term positive. Needs to break .045c on it's way through .05c for the momentum to continue. As indicated, resistance lies around .045c and then .05c, but short term it seems to be going up.


----------



## kariba (10 July 2006)

kennas said:
			
		

> After reviewing the announcement, I am more positive about the decision to buy out the potential royalty to the previous owner of DD. This is surely a sign of managements confidence in the project actually containing the inferred resource previously established? For whatever reason the general market wasn't that extatic about it and took it from a 2% gain to a 2% drop. Still, on the chart, it's looking short term positive. Needs to break .045c on it's way through .05c for the momentum to continue. As indicated, resistance lies around .045c and then .05c, but short term it seems to be going up.




I agree - IMO this was a significant announcement! Not so much in terms of dollars, but in terms of the statement it is making: "We want it all!!"

Good one - I reckon we will see 5 cents hit this week

cheers


----------



## snopig (11 July 2006)

Yeh I agree good announcement on Friday but came a little late in the day to make a great deal of change to the SP   .


----------



## snopig (12 July 2006)

AEX looking good today hit 4.9 and might just sneak into the 5's latter today if we are lucky.


----------



## Sean K (12 July 2006)

Yep,

Another good start to the day on good volume.

Holding the upward trend started around 15 June, so that's almost a month moving generally up. 

Breaking .05 will be a very positive sign.


----------



## xice (19 July 2006)

Interesting to see this stock only trade a quarter of its 3M average today.
Any ideas?


----------



## Brissydave (19 July 2006)

Perhaps just interest elsewhere .... like EXT, another Uranium explorer announcing mineralisation ... although a mate of mine who loves his charts will always point to lower volume with narrow trading range as an indication of a coming breakout ... I live in hope ... LOL.


Cheers ... Dave

give me another coffee and open the chablis, it's been a big day .. LOL


----------



## snopig (20 July 2006)

Five Holes drilled six to go!!!     

Shallow drilling due to the DD being a shallow mine


*Denny Dalton – Drilling Progress Report*

• Five Holes Completed

• Hole Depth Average 25 m to 45 m

• Core samples being cut for assaying

The company is pleased to announce that 5 of the initial 11 targets have been completed at Denny Dalton. Refer attached map.

The new core splitter has arrived on site and work has commenced on the core sampling. This includes preparation for transportation to Johannesburg and assaying by SGC Lakefield. 

Their website is www.met.sgs.com
Upon the completion of this first phase drill program a second drill program has been proposed by Caracle Creek International Consulting Group (CCIC). This will compliment the first program with holes collared to assist in calculating the initial resource. The exact number of holes to be drilled during this phase can not be provided. 

However a minimum of 10 holes further out from the known mineralised area will be undertaken – all targeting an extension of the Mozan Contact Reef (MCR) payshoot.

Denny Dalton is situated at the southern most end of a major Precambrian basin in which deep erosion has stripped away the cover rocks and exposed the units of the Pongola Super Group. 

This Pongola basin is compatible in size with the Witwatersrand but about 300 million years older. The Pongola rocks are estimated to be 3.1–2.9 billion years compared with the Witwatersrand which spans 2.75 – 2.5 billion years. Mineralisation at Denny Dalton occurs as shoots of gold and uranium concentrations within conglomerate beds at the base of the Mozaan Group.

These conglomeritic beds outcrop over a strike area of approximately 4km with the Mozaan Contact Reef the principal economic horizon lying unconformably on the Insuzi Lava Formation. Previous stratigraphy above the MCR, have shown to have economic potential both for gold and uranium.

Yours faithfully

Neville J Bassett
Secretary

Suite B 150 Hay St Subiaco Western Australia 6008
Telephone: + 61 8 9388 8436 Facsimile: + 61 8 9388 8450


----------



## rederob (26 July 2006)

Even if Denny Dalton proves not to be as promising as previously thought, with the price of uranium continuing to rise, the project itself is likely to get the go ahead (me and snopig have bought picks and shovels and are ready to go!)


----------



## snopig (27 July 2006)

Yeh I have my shovel ready to held out if needed


----------



## Sean K (2 August 2006)

AEX looking shakey, dropped to .036c and playing footsies with 200d ma. Look for bounce off previous support levels here. Me hopes. 

Must be due for some more news at DD!


----------



## Brissydave (4 August 2006)

Truly amazing ... 11.52 and trades = zero ... this stock rarely trades under 1 mill per day and often much higher.

At least, if there are no buyers ... there are no sellers either ... but still weird.

Dave


----------



## snopig (14 August 2006)

Interest building in AEX and AEXO today. Just a waiting game now for drill results.


----------



## Sean K (15 August 2006)

Up 10% on good vol. Positive cross on the MACD moving up. 

The next ann must be on it's way. It's due!


----------



## xice (18 August 2006)

Another strong few days have got AEX approaching the $0.50 barrier.


----------



## Sean K (19 August 2006)

Well, it's held above $0.04, which is a start. 

Found a firm base by the look, but this could track sideways for a while until it brings out the next results at DD. Then, assuming they find similar results from that previously, it'll go up. 

I'm sure their first drill holes will be in locations they know was tested already and found to have gold and/or uranum, just to get some runs on the board, so it should be positive. Surely.


----------



## xice (19 August 2006)

lol, make that 5c barrier


----------



## rederob (19 August 2006)

xice said:
			
		

> lol, make that 5c barrier



Nah
I am happier with resistance at 50cents!
Me and snopig are "out there", you know, and I reckon kennas is not far behind.


----------



## Sean K (19 August 2006)

LOL, I sell everything and retire to the Caribbean at $0.50.


----------



## laurie (19 August 2006)

kennas said:
			
		

> LOL, I sell everything and retire to the Caribbean at $0.50.




Well there is a matter of CGT to consider   

cheers laurie


----------



## rederob (20 August 2006)

laurie said:
			
		

> Well there is a matter of CGT to consider
> 
> cheers laurie



I have heard the Caribbean islands have a deleterious affect on ones memory, especially in relation to completing overseas income tax pro formas!
Another martini, please.


----------



## kariba (21 August 2006)

Looked very strong last week .... sellers seem to be moving away, so we might have a good week on AEX.

Announcements must be close

cheers


----------



## Sean K (21 August 2006)

A nice hammer formed after that doji possibly indicating a bullish trend but needs to be confirmed with another upward move. A long white candle will do me. Will find trouble at $0.048 again.


----------



## Freeballinginawetsuit (21 August 2006)

Hmm, bought these guys this morning and they have just gone into a Halt.

Any thoughts,Kennas


----------



## CanOz (21 August 2006)

I can't find the notice on the trading halt.....anyone see it?


----------



## Sean K (21 August 2006)

Can't see the trading halt yet?

If there is, it could be extraodinary news about the drilling at DD. Good or bad. 

They only had 2.2mil in the bank at last cash flow statement, maybe a placement.....

Just good news I hope.


----------



## CanOz (21 August 2006)

I don't think it was a trading halt.....just didn't trade for a while. There was no announcement when it came back either.


----------



## snopig (21 August 2006)

I cant see any halt! There may have just been a quite period.


----------



## snopig (31 August 2006)

Denny Dalton Update   

ACCLAIM EXPLORATION N.L.
ABN 99 009 076 233
31 August 2006
Companies Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
Sydney NSW 2000
Denny Dalton Project– Market Update
Acclaim Exploration (“Acclaim”) is pleased to announce that the first 20 diamond drill holes on the Denny Dalton exploration project have now been completed. The company had initially anticipated the drilling would run until the end of September.
Acclaim and it’s geological consultants, Caracle Creek International Consulting Group (“CCIC”), are pleased with the progress of the drilling and the quality of the core recovered. Samples of the core are currently being assayed by SGS Lakefield with cross checks to be conducted by Setpoint Laboratories to verify results for Quality Assurance and Quality Control. Upon receipt of the final cross checked results, CCIC will prepare a report for Acclaim to be released to the market.
The next phase of the exploration programme by CCIC will be full geological modeling of the area utilising the historical data combined with the new drilling data to create a basis for future resource calculations.
Work by company consultants is continuing on the conversion of the “old order” prospecting permits to “new order” prospecting rights. Meetings with the South African Department of Minerals and Energy have taken place to ensure a smooth conversions process.
The Denny Dalton Project is situated at the southern most end of a major Precambrian basin in which deep erosion has stripped away the cover rocks and exposed the units of the Pongola Super Group. This Pongola basin is compatible in size with the Witwatersrand but about 300 million years older. The Pongola rocks are estimated to be 3.1–2.9 billion years compared with the Witwatersrand which spans 2.75 – 2.5 billion years. Mineralisation at Denny Dalton occurs as shoots of gold and uranium concentrations within conglomerate beds at the base of the Mozaan Group. These conglomeritic beds outcrop over a strike area of approximately 4km with the Mozaan Contact Reef (MCR) the principal economic horizon lying unconformably on the Insuzi Lava Formation. Previous stratigraphy above the MCR, have shown to have economic potential both for gold and uranium.
Yours faithfully
Neville J Bassett
Secretary
Suite B 150 Hay St Subiaco Western Australia 6008
Telephone: + 61 8 9388 8436 Facsimile: + 61 8 9388 8450


----------



## moses (31 August 2006)

So why did it drop 5% today?


----------



## havingfun (31 August 2006)

moses said:
			
		

> So why did it drop 5% today?



Now if we new the answer to that where would the fun be??????
This place will kill ya...


----------



## Sean K (1 September 2006)

moses said:
			
		

> So why did it drop 5% today?




Because the ann was lame. No upside, just the usual. Their last few anns have just been all about logistics and administration: 'site ready to be drilled', 'rig about to arrive', 'rig arrived', 'toilets overflowing' etc etc. 

When they ann some positive results from these samples, and they rejig the resource estimate to say there's twice as much ore as previously estimated, then it might go up a couple of %. 

Patience required here. No need for cartwheels and somersaults like over on the EXT thread.


----------



## rederob (1 September 2006)

kennas said:
			
		

> Patience required here. No need for cartwheels and somersaults like over on the EXT thread.



Uranium was priced at $31/lb in September last year and its $48.50 today.
One needs not have a rocket science qualification to know that if AEX's drill results were 50% worse than expected, the company would still receive more $$$ for its resources than a year ago.
For the commodity newbies, the longer this spins out the better.
This is because when we get to a bankable feasibility study, it will be costed at the prevailing uranium spot rate.  
And if the BFS gets the nod, then offtake agreements will be at the prevailing rate of higher.
My understanding is that BHP gets less than $20/lb for their uranium from Olympic Dam (not 100% sure so will check over the weekend), and that this price is locked in until 2008.
I am very comfortable with AEX taking as long as they like to put news out to the market.


----------



## Brissydave (1 September 2006)

Gotta agree with Redrob ... re time taken is OK ... and with Kennas regarding the level of .. shall we say BS over at the EXT thread.

I am holding both AEX and EXT .... I just have more faith in AEX ... the old results being confirmed and even expanded will produce a fantastic rise in SP ... so I will be patient.

Cheers ... Dave


----------



## 56gsa (11 September 2006)

Been following this for a while but don't hold, some questions:


drilling results soon to be released will be on 20 holes - but past history shows low grades (max 0.149% U) so will these excite?

will drill results include the gold grades - this seems to be the extra bonus for DD if they can prove up the 2.5Moz

EV for AEX is about $1.60 which is very low (actually second lowest on my list to MTN) - what are the perceived risks - some on this thread seem to think management aren't up to it?

with the combined U/au JORC resource certainly seems to have potential if they can progress things


----------



## kariba (12 September 2006)

56gsa said:
			
		

> Been following this for a while but don't hold, some questions:
> 
> 
> drilling results soon to be released will be on 20 holes - but past history shows low grades (max 0.149% U) so will these excite?
> ...



Good questions!

Low grades .... as long as they can keep it above 0.35% it will be economical based on the shallow nature of the deposit (approx 30m) & the gold by-product.

Management .... despite negativity of some, have done nothing wrong! From their vision in picking up the DD project till now. They have been upfront, regular reports, got a good geologist, employed a world renowned company to assist then on the ground in S Africa

What the market wants is: 1] Confirmation of the historical drill results 2] confirmation that it is an economical project 3] Possible extension to the deposit

Until then it has marked down the s/price accordingly. So the qustion is:A] Do I wait for the confirmation & then join the mele, buying at MUCH higher prices? Or: B] Do I take a position now at low prices, with potential higher gains, but also higher risk?   

regards


----------



## 56gsa (12 September 2006)

thanks kariba - presume you mean 0.035%?

just trying to get a sense of the short-term upside which seems to be more on progressing the BFS - as you said to demonstrate its economics - drill results would need to be above the historic data (which i guess if they chose the first 20 holes sensibly they may be?!)

seems to have develop strong support at 4 cents so may try and pick up some under 4.


----------



## Rustaf (14 September 2006)

Lots of fun today! Has anyone got any news on the impending announcement?

Thanks.


----------



## xice (14 September 2006)

amazing eh..on no news too.
traded something like 26 million today, up ~20%


----------



## Freeballinginawetsuit (14 September 2006)

xice said:
			
		

> amazing eh..on no news too.
> traded something like 26 million today, up ~20%




Been quite on the thread on this one, a bit concerned I'd jumped in to early on the 21/8.

Today's volume was very encouraging, I hope this confirms the bullish sentiment on the T/A last month.

No announcements today or anything, could indeed be something up!, here's hoping!.


----------



## Ken (14 September 2006)

i heard whispers of a take over proposition in a share trading meeting that i attended last week....

Non announcement trading always means something is up.


----------



## Sean K (18 September 2006)

Ken said:
			
		

> i heard whispers of a take over proposition in a share trading meeting that i attended last week....
> 
> Non announcement trading always means something is up.




Any detail on the whispers Ken?

Great vol on AEX last week. Good to see it hovering around $0.05 again. Perhaps news is due on the DD drilling, and it's good!


----------



## Sean K (18 September 2006)

Must be something going on here. Last 3 trading days, substantial increase in volume and broken through strong resistance around $0.05. Looking good for fellow AEX holders. 

My guess is imminent news from DD drilling confirming previous resource estimate. 

Chart looks good for rise back up to $0.06. Might find some selling there, but on news could clear it. 

Go AEX!


----------



## Sean K (18 September 2006)

Up 18% on huge vol of 34mil.   

Now at $0.058, knocking on $0.06. Clears $0.06 and into 3 year highs. Anticipate some selling now unless DD is bigger than previously reported. Let's hope so!


----------



## CanOz (18 September 2006)

Yeah, it just amazes me how it can go like this without an annoucement. Lots of sellers to get through at .059 and .06. but certainly the highest volume since April.


----------



## michael_selway (18 September 2006)

CanOz said:
			
		

> Yeah, it just amazes me how it can go like this without an annoucement. Lots of sellers to get through at .059 and .06. but certainly the highest volume since April.




yeah also there was a speeding ticket, in which they said thre was nothing, and AEX shoudl fall...but then up huge again!

Ignoring the speeding ticket warning!







thx

MS


----------



## Sean K (18 September 2006)

Thanks for that summary MS. Looks pretty good doesn't it, even without potential upgrade with increased exploration in the area. 

I agree, surprised that it didn't drop back after 'no news' response to ticket. Interesting. Perhaps the day traders are just jumping on for a short ride?


----------



## MoMoney (18 September 2006)

Definately traders in here, but the trading pattern suggests something bigger,   when a big enough line up of sellers appears at whatever price, whack, all gone real quick.  I'm thinking that there is a leak and there are some big boys taking a position.   This type of trading is catching alot of T3's out,  sell to soon and then have to chase for the next entry.  FUN


----------



## Sean K (19 September 2006)

MoMoney said:
			
		

> Definately traders in here, but the trading pattern suggests something bigger,   when a big enough line up of sellers appears at whatever price, whack, all gone real quick.  I'm thinking that there is a leak and there are some big boys taking a position.   *This type of trading is catching alot of T3's out*,  sell to soon and then have to chase for the next entry.  FUN




What's T3s Mo?

AEX holding up well on good vol early again. Some trades above critical $0.06 level, but not holding above, as expected. Needs news now to clear the hurdle.


----------



## MoMoney (19 September 2006)

Traders who use their brokers three day grace period prior to settlement of accounts to trade for no immediate outlay..sort of trading on credit


yep this now needs news and quickly or traders will get bored and sell down. Support at 5.4-5.6c would be mighty!  
 if the grades prove up and or are upgraded, well, this will go ballistic!  IMO


----------



## cogidubnus (19 September 2006)

I bought these today. They have an announcement coming out and also the T-3 people have excited. This should do well I think.


----------



## nizar (19 September 2006)

CanOz said:
			
		

> Yeah, it just amazes me how it can go like this without an annoucement.




But isnt that how it is?
Buy the rumour - sell the fact
(or in some cases, buy the rumour and buy the fact! like AGS)


----------



## dj_420 (19 September 2006)

hey nizar, just wondering if you knew about these questions

in regards to AEX options how do you know if you are buying buys or sells (puts and what is the other one?) i was looking at the options today but they only trade AEXO. 

Say i bought these AEXO how do i convert to shares and in what timeframe do i have to do it or allowed to do it. where does it tell me the strike price for AEXO options.

cheers


----------



## dj_420 (19 September 2006)

ive started reading over the options thread, it is very confusing
a lot of learning involved in options.

i think i prefer the idea of CFD's. much simpler and easier to understand.


----------



## Sean K (20 September 2006)

kennas said:
			
		

> Thanks for that summary MS. Looks pretty good doesn't it, even without potential upgrade with increased exploration in the area.
> 
> I agree, surprised that it didn't drop back after 'no news' response to ticket. Interesting. Perhaps the day traders are just jumping on for a short ride?




As expected, no news and down she goes. Hopefully consolidates around $0.054 to set a new base above $0.05 which was previous resistance. But who knows with these speccies.....


----------



## cogidubnus (23 September 2006)

I have been sucked in and have lost a lot of money so far. I will have to right these off as a loss and move on.


----------



## Sean K (23 September 2006)

cogidubnus said:
			
		

> I have been sucked in and have lost a lot of money so far. I will have to right these off as a loss and move on.




Did you buy at the peak Cog? At $0.06? Otherwise you couldn't have lost that much....Well, depends how much you put out there.

Looks like it was just day traders jumping on this. Vol dropped over last 2 days. They still are due another ann soon on drilling at DD. Will be end of month I reckon. I pluck 29 Sep. Maybe 28th. Expect some more action here.

I am not trading this one. I saw the potential a while ago and am holding for revised JORC on DD which I am expecting to be the same as previous.

Since previous price gains there should be some short term support between $0.048 and $0.051.


----------



## IGO4IT (23 September 2006)

cogidubnus said:
			
		

> I have been sucked in and have lost a lot of money so far. I will have to right these off as a loss and move on.




In these circumstance, you should've stayed very calm & waited for a re-test to highs.

remember, this is not a blue chip stock, it will have to retest highs for many reasons & most importantly for guys like you who got stuck on highs to get out!! you were not there alone & many "big" buyers are still stuck. 

Technically, if it broke 5.3c support (for short term trend) it will see another support at 5.1c again (which is the 2 weeks trend line).

Not a holder but watching carefully for a chance to hop on & to get ready for the re-test 

cheers,


----------



## Morgan (23 September 2006)

Kennas, IGO,

Do the candlesticks for the last two tradin days indicate that Cog should not take any dramatic action just yet?
On the posted chart, the gravestone Doji and second doji, to my understanding, indicate that there is now uncertainty in the future trend (ie nothing yet to indicate that Cog's worrying downtrend is accelerating). The Doji should indicate a possible turning point, or at least indecision by the market- backed up by the fact that volume has dropped right off.
The market is waiting for a signal? (the possible upcoming announcement suggested by Kennas?).


----------



## Sean K (23 September 2006)

Morgan said:
			
		

> Kennas, IGO,Do the candlesticks for the last two tradin days indicate that Cog should not take any dramatic action just yet?
> On the posted chart, the gravestone Doji and second doji, to my understanding, indicate that there is now uncertainty in the future trend (ie nothing yet to indicate that Cog's worrying downtrend is accelerating). The Doji should indicate a possible turning point, or at least indecision by the market- backed up by the fact that volume has dropped right off.
> The market is waiting for a signal? (the possible upcoming announcement suggested by Kennas?).




Doji could indicate a possible turning point, but there are plenty of examples where this does not happen. It certainly indicates indecision of the market. 

I'm never going to recommend anyone buy or sell anything really. Just presenting information and my own trading decisions. 

I'm tipping an ann next week because they have done this the past few months. I think it was mentioned in one of their statements a while ago that they would update the market monthly.


----------



## ezyTrader (23 September 2006)

Just curious, does this kindda look like a saucer formation, ne1?


----------



## cogidubnus (24 September 2006)

Thankyou I will hold tight and see what happens. I bought at .057


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## Sean K (24 September 2006)

ezyTrader said:
			
		

> Just curious, does this kindda look like a saucer formation, ne1?




Perhaps a cup formed from 14 May to the $0.06 peak a few days ago. Not text book, but generally there. Watch for sideways movement for the handle which would indicate the next move is up.

Can't put the AEX chart up but this is what it could look like if the handle eventuates:


----------



## ezyTrader (24 September 2006)

Would definitely be interesting to see how the retrace and sideways go...


----------



## IGO4IT (25 September 2006)

Hi guys,

for those who were wondering what is a re-test...........it is what's happening right now   

cheers,


----------



## cogidubnus (25 September 2006)

IGO4IT said:
			
		

> Hi guys,
> 
> for those who were wondering what is a re-test...........it is what's happening right now
> 
> cheers,



i am happy. Thankyou


----------



## Sean K (25 September 2006)

I was going to put a cup and handle chart up here to see where it could be going. Perhaps it's just going to go UP! 

I'll put the chart here anyway, just in case it doesn't follow through.


----------



## ezyTrader (25 September 2006)

Hi kennas,

What measurements would you make for the length and depth of the cup? Investopia measured in points, so am a bit confused...


----------



## Sean K (26 September 2006)

On Cup and Handles, from Stockcharts:

Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential. 

Cup: The cup should be "U" shaped and resemble a bowl or rounding bottom. A "V" shaped bottom would be considered too sharp of a reversal to qualify. The softer "U" shape ensures that the cup is a consolidation pattern with valid support at the bottom of the "U". The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. 

Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which is conforms with Dow Theory. 

Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.

Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks. 

Volume: There should be a substantial increase in volume on the breakout above the handle's resistance. 

*Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup. *

The distane for AEX's tip of cup to bottom is about $0.022, so target would be $0.082. Nothing goes exacly to plan though...Next resistance after $0.06 is $0.07, and let's not get ahead of ourselves, it hasn't confirmed a handle, or broken through $0.06 yet....


----------



## ezyTrader (26 September 2006)

Cheers, Kennas.

Definitely nothing's definite.


----------



## Sean K (27 September 2006)

No handle forming here yet, looks like it's just going to go up. Hesitant to speak too soon, but broken through $0.06 this am on good volume and if it holds above this could be opening a new chapter in the sp of AEX. $0.06 has been a resistance level for some time and to break would be significant.

On the long term chart the slow steady decline has been halted and after consolidating for a preriod at about $0.045, it's now trending up IMO. 

Having said that, it could pull back and might still be in position to finish off the cup and handle.....It's had a very good run the past 3 weeks. 

News due this week on DD drilling. Could be just another update saying how many holes they've dug. If there was significant results that would just come out any time.


----------



## BraceFace (27 September 2006)

Looking very good today so far, and possibly heading towards 7c.
I decided to bail at 6.4c. Just pleased to make a profit after sitting on it for a while.
Good luck to all holders - I hope it keeps going up!


----------



## Sean K (27 September 2006)

BraceFace said:
			
		

> Looking very good today so far, and possibly heading towards 7c.
> I decided to bail at 6.4c. Just pleased to make a profit after sitting on it for a while.
> Good luck to all holders - I hope it keeps going up!




Good timing Braveface.

AEX really struggling to hold above this darn $0.06 level. Common AEX!

If it doesn't hold above, might be back for more consolidation I reckon.


----------



## kariba (27 September 2006)

kennas said:
			
		

> Good timing Braveface.
> 
> AEX really struggling to hold above this darn $0.06 level. Common AEX!
> 
> If it doesn't hold above, might be back for more consolidation I reckon.




Consolidation is not a bad thing - No big retrace though!

I reckon this climb for AEX has been so much better then last time .... slow & gradual, with a little consolidation on each level

all good!

regards


----------



## Sean K (29 September 2006)

kariba said:
			
		

> Consolidation is not a bad thing - No big retrace though!
> 
> I reckon this climb for AEX has been so much better then last time .... slow & gradual, with a little consolidation on each level
> 
> ...




I agree Kariba. I'm much more comfortable with this gently climbing, although the day traders did get into this I reckon and have started selling out of it. Just can't hold above $0.06!!! Perhaps once it does get through it, that will be a solid floor on the price for next assault on $0.10 and beyond.


----------



## Sean K (30 September 2006)

No ann last month? What? First month in yonks that there wasn't a statement, a murmur, an update, anything. But stock up 50% in the month......Bamboozelling. 

 Back under key resistance of $0.06. Just can't hold it's head above...

I think it's because they have the 20 holes drilled that were planned to finish by end of Sep and the core samples are at the labs for testing, and verification. Perhaps that's what all the action was about late in Sep....Looking forward to thos results which will either make me very happy, or, maybe,


----------



## Sean K (2 October 2006)

I thought the ann report out after the bell last week was pretty positive, but with no more news on the drilling results the market's not happy and has put AEX down a couple % this am. 

No time frame given from the company in regard to the results of the 20 news drill holes, just asap....After that, revised modelling with previous drilling for new JORC estimate.


----------



## michael_selway (2 October 2006)

kennas said:
			
		

> I thought the ann report out after the bell last week was pretty positive, but with no more news on the drilling results the market's not happy and has put AEX down a couple % this am.
> 
> No time frame given from the company in regard to the results of the 20 news drill holes, just asap....After that, revised modelling with previous drilling for new JORC estimate.




Yeah AEX holding well, which is good






thx

MS


----------



## Sean K (4 October 2006)

Common AEX. Why don't you like $0.06?????? It's just a little number! 

Heading back to $0.05 ish again......................


----------



## Sean K (9 October 2006)

Rebounding from dip to $0.052, up 9% to $0.056 on good early vol. 

Perhaps $0.05 ish is support now....with $0.06 as resistance. Nice trading range for those trading, but I'm just holding for the new JORC. 

If they do have the $3b in the ground as already inferred, wonder what market cap that should give them once indicated?

$50 mil, $100 mil?

Anyone hesitate a guestimate on that considering it's so early in development?


----------



## Rustaf (10 October 2006)

G'day AEXer's,

Good start to the week!

Any thoughts?

Cheers.

P.S. I hold enough for my retirement!


----------



## Fab (10 October 2006)

Not so good today. Going down when most of the stocks are going up


----------



## Sean K (10 October 2006)

Consolidating above $0.05 is a good thing at the moment. 

But really, everything hedges on the results of the 20 holes in for analysis. Either confirms the resource or not, and if it does then stock should have a good day.


----------



## Fab (10 October 2006)

Kennas,

When is that due ?

Cheers


----------



## Sean K (10 October 2006)

Company didn't give a time frame, but the samples were in mid September, so say a month from then, so next week maybe. Depends on the lab and how busy they are I guess.


----------



## Markcoinoz (10 October 2006)

Hi Kennas,

Good to see you are keeping the faith.

I have held onto my AEX since March.

Added some more this morning and will continue to do so over the coming weeks at least until we know what the outcome of the drill results.

I look at it this way.

You have Creasy as the number two shareholder.  We still don't know who owns number one spot.  Very mysterious.

They paid $6mill for Denny Dalton.  When you consider they sold the Langer Heinrich to Paladin for $15k, surely they could not have paid $6m for a dud.

The oppies look like excellent value.

I will continue to accumulate.

Cheers markcoinoz


----------



## Sean K (13 October 2006)

AEX building a pretty solid base just over $0.05 and MACD looks to be starting to spin. Time lag of the support just starting to catch up. Volume down after the day traders jumped ship last month, and reduced selling may mean long term holders are holding on. (or is that no new buyers?   ) 

Anyways, looking solid. Established base for next shoot when new confirmed JORC comes out. Market is pretty positive atm on good results with the bulls back in town...


----------



## jemma (18 October 2006)

Kennas, what is your opinion chartwise now.

Looks like its set to smash 6 cents finally.


----------



## stereo21 (18 October 2006)

Heavy trading atm - day traders perhaps? or news imminent??


----------



## stereo21 (18 October 2006)

looks like news.  Now in a trading halt!  Any ideas?


----------



## dingos (19 October 2006)

wow those drill results are totally uninspiring


----------



## nizar (19 October 2006)

dingos said:
			
		

> wow those drill results are totally uninspiring



pretty low uranium grade


----------



## blobbob (19 October 2006)

Are their more drilling results to come? or is that it.


----------



## powerkoala (19 October 2006)

there suppose to be more... just read the announcement carefully...
yet, market overreacting just to read first page showing low grade...


----------



## Fab (19 October 2006)

Why is it going down so strongly ??


----------



## Broadside (19 October 2006)

Fab said:
			
		

> Why is it going down so strongly ??




overhyped and underdelivered I guess, I didn't hold but when this:

*0.2 metre @ 9.5g/t Au, 73ppm U3O8*

is in the drilling highlights you know it is going to be hard going


----------



## powerkoala (19 October 2006)

trigger stop loss maybe...
sp was increase rapidly before announcement comes, daytrader must be knowing something. ppl buying up and now got burn.
buy on rumors, sell on fact...


----------



## Broadside (19 October 2006)

powerkoala said:
			
		

> trigger stop loss maybe...
> sp was increase rapidly before announcement comes, daytrader must be knowing something. ppl buying up and now got burn.
> buy on rumors, sell on fact...




then the rumours were very wrong, it looks suss to me


----------



## johnno261 (19 October 2006)

Stick to EXT people, they have proven fantastic drill results!!
*28/09/2006 ann. 9metres @ 1.077kg/t incl. 5metres @ 1.853kg/t
                        10metres@ 0.345kg/t
*21/08/2006 ann. 41metres@0.361kg/t
                         8metres@2.316kg/t
                         14metres@1.063kg/t
*19/07/2006 ann.10.25@0.264kg/t
                        2metres@1.019
                       10metres@ 0.335kg/t


----------



## mmmmining (19 October 2006)

I think AEX management did good job on NOT disclosing market sensitive information in a professional manner. You can find it out from thier website and release, very suggestive, nothing real. As a matter of factor, I researched this company, I cannot find any valuable info provided by the company except millions of years old rocks in their HOSTRICIAL holly land.

We need millions of ounces gold and millions of lbs Uranium! Show me these!


----------



## chris1983 (19 October 2006)

It wasnt a good day.  It will be interesting to see what happens.  I would be a little worried having a large holding in this one.  Things can turn around in the blink of an eye though.  Good luck to the holders.


----------



## petee (19 October 2006)

jemma said:
			
		

> Kennas, what is your opinion chartwise now.
> 
> Looks like its set to smash 6 cents finally.



sure smashed something..thinking it was a mirror lol :


----------



## Sean K (23 October 2006)

Holy cow batman! 

I have been on the GBR diving for the past week or so, come back, and AEX has made a great run through $0.06 and then SMASHED back down to $0.04 ish.   

Have to agree in regard to some of the gradings advised by the company. They seem pretty weak to me. Any expert opinions out there?

Interestingly the company was 'pleased to announce' the results. They also go on about the extention to the mineralisation they are hoping to mine. Good right?   

From their previous anns I was actually expecting them to announce a revised inferred JORC resource for DD, but nada! This was what everyone was expecting I think. What all were waiting for. Disappointing, and the stock has been dumped accordingly. 

Where to from here for AEX holders? 

Switch, or wait for the next results after the next drilling to start in Nov?


----------



## nizar (23 October 2006)

kennas said:
			
		

> Where to from here for AEX holders?





probably they have already jumped ship to AUZ


----------



## SevenFX (25 October 2006)

Uhhhh.....does this mean a further fall in AEX as 75m more shares will come on line...????
http://www.asx.com.au/asxpdf/20061025/pdf/3z5m5xkk82zts.pdf


----------



## michael_selway (25 October 2006)

SevenFX said:
			
		

> Uhhhh.....does this mean a further fall in AEX as 75m more shares will come on line...????
> http://www.asx.com.au/asxpdf/20061025/pdf/3z5m5xkk82zts.pdf




hm also at 3c?

thx

MS


----------



## Sean K (25 October 2006)

When your sp has been hovering between $0.04 and $0.06 for ages, why wouldn't you do a placement at at 25-50% discount to that????

WHAT THE??????????????????????????

I am losing it with these guys.


----------



## SevenFX (25 October 2006)

Why is there STILL support (no big traders in there) at 3.5c-3.7c after the news and no huge support at 3c or below for that matter????

Maybe silly q.


----------



## Sean K (25 October 2006)

Perhaps we're waiting to see who the placement is for?


----------



## SevenFX (25 October 2006)

kennas said:
			
		

> Perhaps we're waiting to see who the placement is for?



 What that that mean K. 

That these 75m are for a corporation that will buy into the project at 3c

Thanks
T


----------



## Mumbank (25 October 2006)

Mmm has bounced back up to 0.039 so maybe it was just a shock reaction or those who bought at 0.03 getting out but its back up to where it opened
Bit hard to follow really, I'll see what happens next couple of days


----------



## Sean K (25 October 2006)

I've got no idea Tech. They don't say who this placement is aimed at as far as I can see. It's going to be arranged by Aegis, so perhaps Aegis are going to hand them out to their mates. 

Funny, they were 'pleased to announce' this placement as well.

Last time they were 'pleased to announce' something the shares were smashed 35%, now what? What happens when they are 'delighted to announce' something. A 50% drop.

They still say they are aiming to turn the inferred resource to measured so a PFS can be done......just when.....if.....

With the issue of another 75m shares that takes the total out there to 680m fully paid, 40m partly paid ($0.02 to go), and 420m options excised at $0.05 on 30 Jun 08. With a current sp of about $0.039...

So, with a current sp of about $0.039 x 720 mil = $28,080,000 plus 420m oppies at $0.05 = $21,000,000. Market cap: $49 mil. 

The inferred resource is still $3 billion plus, so surely it's still a potential player.

trouble will be I suppose, that to get it to the mining stage just how many more placements will there need to be, unless they are bought out or get in a JV/Farm in with someone who will pay the bills......PDN, please look over here!


----------



## SevenFX (25 October 2006)

Yes, I'm not following either the market is in a rally b4 it hits the 3c mark...????....but hey I hope I'm forgiven as I'm curiously new here...

Isn''t this bad news for all that own above 3c...????   

Thanks
SevenFX


----------



## Sean K (25 October 2006)

It's up 2.5% now? What the hell is going on?


----------



## SevenFX (25 October 2006)

And with 2 orders totalling 4million supported by traders @ 3.7c


----------



## SevenFX (30 October 2006)

kennas said:
			
		

> It's up 2.5% now? What the hell is going on?




Looks like Traders are finally letting it down slowly K. as the support builds near it's new value.


----------



## Sean K (30 October 2006)

I'm out of this for the moment. Waiting for a bottom............


----------



## constable (31 October 2006)

and i got my hair singed at .038 i cant believe this keeps going down


----------



## Sean K (31 October 2006)

Damn disappointing. Heading back to all time lows. Investors have lost confidence in it by the look. 

Funy thing is, the inferred JORC resource for DD still stands.


----------



## rederob (31 October 2006)

kennas said:
			
		

> Damn disappointing. Heading back to all time lows. Investors have lost confidence in it by the look.
> 
> Funy thing is, the inferred JORC resource for DD still stands.



JORC means diddly squat to most.
Their report did notexcite the market - we wanted much more.
Is there more and better?
Their report did not say how deep they went!
Their report was not very illuminating at all.
But they want more money to drill more holes.
Are they conning us, or do they know more than us.
I think the latter, but am not travelling all the way there to find out.
Re-enter at 2.5cents anyone - lol.


----------



## Sean K (31 October 2006)

rederob said:
			
		

> JORC means diddly squat to most.
> Their report did notexcite the market - we wanted much more.
> Is there more and better?
> Their report did not say how deep they went!
> ...




I sold at $0.38. Not sure if I'm going to come back to it.


----------



## constable (1 November 2006)

was that the bottom at .033? certainly built up a little now but hard to see it getting far.


----------



## constable (6 November 2006)

i hope somebodys watching!


----------



## Sean K (6 November 2006)

Looks like it was a bottom at $0.034. Will probably be back in if it beats $0.04. Everything is going up atm, could be just responding to general U sentiment. Other stocks are up 10-20 %.


----------



## Sean K (7 November 2006)

Bounced off $0.034 and climbed through long time support line at $0.036. Looks good for a quick trade. I think I'll be back in this am.


----------



## constable (7 November 2006)

you must have had a bit of muscle moving that 5000000. 
Must admit ive gone back in as well kicking myself for selling out yesterday at 38!


----------



## constable (7 November 2006)

I cant see any volume coming back in on the sellers side this could be my cup winner!
please note i am gambling addict without medication.


----------



## Sean K (7 November 2006)

Getting this at or just under $0.04 is pretty good I reckon. I agree that the punters were thrown off when it was crumped. Me included.   It's riding the U phoria atm too though. This will end soon.


----------



## Sean K (8 November 2006)

I was going to get out of this now at $0.045, but it looks like it's set to run to $0.05. Aaah, good to get back on the AEX wooofer.


----------



## Sean K (8 November 2006)

Out at $0.046. Not a big gain, but that'll do me for the minute.


----------



## constable (8 November 2006)

rode from 40 - 42 and then 44 -46 overnight but relunctant to go back in just yet.


----------



## constable (8 November 2006)

oops bar?


----------



## Sean K (8 November 2006)

Looks like it's falling now. Lucky!


----------



## Fab (14 November 2006)

I would be happy to enter this one at around 0.03 if it ever get there. My question is how good is it as a U stock ? Almost all other U stock have recently rallied this one as dropped sharply after grade annoucement. Has this going to have long lasting impact on AEX ?


----------



## Sean K (14 November 2006)

Fab said:
			
		

> I would be happy to enter this one at around 0.03 if it ever get there. My question is how good is it as a U stock ? Almost all other U stock have recently rallied this one as dropped sharply after grade annoucement. Has this going to have long lasting impact on AEX ?



Fab, I'll be looking at it again around the $0.035 level. Not impressed with managements communication in regard to the last ann. What a joke. So, I have lost a lot of confidence in them generally atm. There's still a chance they can firm up the inferred resource to indicated/measured, so I'm watching for a turnaround.


----------



## nizar (14 November 2006)

kennas said:
			
		

> Fab, I'll be looking at it again around the $0.035 level.




I'll be looking at it again when it breaks 6.1c and is in all time highs blue skies


----------



## constable (14 November 2006)

I think these points are relevant to aex feel free to correct me!
             - 3 or so weeks ago these bottomed out at 33
             - they slowly rallied to 35-36 then quickly to 37 - 38
             - then the morning they broke, 38 - 40 were taken out completely
             - these above shares have had plenty of prior opp to be dumped with the susequent run to 47
             - on the market at the minute im tipping that the only shares coming on line were bought at 40 or above.
             - these i feel have just about dried up and should pave the way over the very short term for another build period..........
             - probably cheap opp to get on u atm
disclaimer
i dont always put my money where my mouth was


----------



## rederob (14 November 2006)

nizar said:
			
		

> I'll be looking at it again when it breaks 6.1c and is in all time highs blue skies



Hey nizar, how's this:
I buy a million AEX at 3cents, and you buy an equal value at 6cents.
We both sell at 12 cents.
Do I only make twice as much profit as you?


----------



## Ken (14 November 2006)

is mangement keeping its cards close to its chest?


----------



## ozewolf (15 November 2006)

crackaton said:
			
		

> Check this one out people. Has uranium gold and possibly coal. Worth a look and might start moving soon.




a stock that in my opinion was overlooked...
worth a shot...


----------



## nizar (15 November 2006)

rederob said:
			
		

> Hey nizar, how's this:
> I buy a million AEX at 3cents, and you buy an equal value at 6cents.
> We both sell at 12 cents.
> Do I only make twice as much profit as you?




Yeh but if the time from 3cents to 12cents is 2 years and the time from 6cents to 12cents is 2 months, then we are discussing a different matter entirely  

I reckon if this goes to 3c theres a HUGE CHANCE it will go much lower. If it goes to 6c, then probabilities are it will go upwards.

Just my opinion.


----------



## Sean K (30 November 2006)

25 mil shares @ $0.041 went through at 9.45 this am.....what the?


----------



## constable (30 November 2006)

Its hitting plenty of resistance at .045. Will need a fair belting to get thru!
Day traders holding it back.


----------



## Sean K (30 November 2006)

Constable, What's your take on the 25mil this morning. Directors converting options or something? Was there a placement? I can't remember that.


----------



## Sean K (30 November 2006)

Loks like day traders jumping on now. It's really pumping. Not in.


----------



## YOUNG_TRADER (30 November 2006)

kennas said:
			
		

> Constable, What's your take on the 25mil this morning. Directors converting options or something? Was there a placement? I can't remember that.




Its showing as an Off market cross trade on my PT course of sales,

Thats some trade though $1m+


----------



## constable (30 November 2006)

kennas said:
			
		

> Constable, What's your take on the 25mil this morning. Directors converting options or something? Was there a placement? I can't remember that.



who knows Kennas?  The last placement was going to be at 3cent from memory which is the why the stock got a belting from 6 cents. There was a director buying a million shares yesterday but no ann on any exercise of options. I havent read there agm yet but assume it must be fairly positive. dont no if this run will get far but will set new resistance point. Whoops shes just gone thru look out 5 cents!
I hate this site! i had 300000 in at .46 and i would have pulled them. Might have to go and pick on their options!


----------



## Sean K (30 November 2006)

3 year chart shows quite a bit of resistance between $0.044 and $0.047. Although this early volume and the 1m off market buy is very interesting. 

Drill results from DD might confirm previous inferred JORC afterall...


----------



## philmac (30 November 2006)

YOUNG_TRADER said:
			
		

> Its showing as an Off market cross trade on my PT course of sales,
> 
> Thats some trade though $1m+




The AGM the other day was pretty unimpressive. They had the wrong guy running it. One of the criticisms was that the chairman didn't hold any shares in the company. They said that would be rectified soon (probably yesterday).

Basically they said there's a huge area to drill and they've only completed 20 holes. No idea why they're running today.
Cheers (first post here)


----------



## constable (30 November 2006)

kennas said:
			
		

> Loks like day traders jumping on now. It's really pumping. Not in.



yep heres the rebound still a good chance of hitting 5 cents. tell u what options are hammering along!


----------



## Sean K (30 November 2006)

If it finishes above $0.047 then it might be breaking out. Although resistance at $0.05 as well. Maybe news...


----------



## surelle (30 November 2006)

125 million traded, somethings up!!!! closed at .049
(I hold)
cheers


----------



## Broadside (30 November 2006)

I don't trust them and for that reason wouldn't touch them, but good luck to holders in trying to second guess what the directors are up to.


----------



## constable (30 November 2006)

surelle said:
			
		

> 125 million traded, somethings up!!!! closed at .049
> (I hold)
> cheers



well ive bought a ship load of options so ditto


----------



## constable (1 December 2006)

Interesting the options didnt come back as hard as the sp! Anyrate this hopefully will set a new platform from which their drilling results can add to. I think the days of seeing the sp under 4 cents are well and truly behind us. Am holding options so i am bias !


----------



## Sean K (1 December 2006)

Broadside said:
			
		

> I don't trust them and for that reason wouldn't touch them, but good luck to holders in trying to second guess what the directors are up to.



After the ann with the 'highlight' intersections, you'd have to question not just their overall management ability, but their sence of judgement, common sence, and understanding of the industry.


----------



## mmmmining (1 December 2006)

kennas said:
			
		

> After the ann with the 'highlight' intersections, you'd have to question not just their overall management ability, but their sence of judgement, common sence, and understanding of the industry.




Kennas,

I am confused. I noticed that you have selected AEX as your bet for Dec stock topping. Is that you? or different person with same name. 

I had extreme negative view about this stock before. But my view changed a bit. Everything is relative. AEX looks relative cheap "on the paper" compare with other U stock. There are a lot of people don't read report, and there are a lot of people depend on chart. When Uranium fever is high, even the uglist can has its day (Dangerous time!) . I guess it is a good opportunity to do a trading or two.


----------



## Sean K (2 December 2006)

mmmmining said:
			
		

> Kennas,
> 
> I am confused. I noticed that you have selected AEX as your bet for Dec stock topping. Is that you? or different person with same name.
> 
> I had extreme negative view about this stock before. But my view changed a bit. Everything is relative. AEX looks relative cheap "on the paper" compare with other U stock. There are a lot of people don't read report, and there are a lot of people depend on chart. When Uranium fever is high, even the uglist can has its day (Dangerous time!) . I guess it is a good opportunity to do a trading or two.




Yes, I did pick it. A little odd considering what I've said I suppose, but I stay buy it. The stock picking thing isn't necessarily my 'top tip' but what I think has the most blue sky potential in the month. Plus, if it goes bankrupt, I don't care. Please don't consider anything I put in the stockpicking comp as my best bet. Plus, I don't think I would, or am allowed to do that here anyway.   

The reason I have put it in this month is that results from the latest DD drilling may be released and there is a _chance _  that they will be in line with historical results and confirm the potential of the project. While I consider that a possibility, management haven't proved themselves and if they release 'highlight' results similar to what they did last time then the stock will be smashed justifiably again. But, I wouldn't put my own money on it at the moment. I certainly let it be known on this forum what I buy and when I sell.


----------



## constable (6 December 2006)

strong open on both the options and shares.


----------



## constable (14 December 2006)

constable said:
			
		

> strong open on both the options and shares.



Same again . Was a bit of interest in their options yesterday but today there is a lot of build up at 1.4 cents. Not holding but am looking for the break.


----------



## Sean K (14 December 2006)

constable said:
			
		

> Same again . Was a bit of interest in their options yesterday but today there is a lot of build up at 1.4 cents. Not holding but am looking for the break.



Yeah, I nearly bought some options yesterday seeing that movement. Interesting. 

DD results soonish perhaps?? 

I'm still very wary of this company.


----------



## Sean K (4 January 2007)

kennas said:
			
		

> Yeah, I nearly bought some options yesterday seeing that movement. Interesting.
> 
> DD results soonish perhaps??
> 
> I'm still very wary of this company.



This is an old dog of mine that I just can't stop watching for some reason. Got my a!se whacked in Oct, jumped back in in Nov for a day trade to win some $$ back, and now it actually looks to be recovering and about to go through some significant resistance between $0.048 and $0.05ish. 

Very wary of this and the company management after the first 'significant' results they released at Danny Dalton were laughable. So, what's going on now? Just day traders jumping on momentum, or is DD going to come through. 

Current market cap about $27m, with historical drilling found inferred 24m lbs U, and 2.4m oz au.

Still not sure if it's worth risking. Any holders still out there?


----------



## Sean K (4 January 2007)

Not particularly happy with the grave stone doji, but looks like it's opening up with interest, and that rounded bottom looks good....


----------



## constable (4 January 2007)

Not holding  at the minute kennas . Know what u mean about this stock i've also got a love hate relationship with aex. Easy giveth and easy taketh!
Anyway its had a quick climb and for me i, would like to see some consolidation at current range.


----------



## Sean K (5 January 2007)

One of the few to be green yestey.

Around $0.05 is a critical level for AEX. Looks to be pushing on. Good vol. The only thing that might be pushing it is imminent results from DD, whether they're good or not....

I hate following this stock!!!!!!!!!!!


----------



## mmmmining (5 January 2007)

I withdrawn my bid at 0.041 a couple of weeks ago. It should be filled. I have to play multiple hands with uranium. But no regret without this one.


----------



## Sean K (5 January 2007)

I think I'm going to get absolutely smashed again, but I'm trying to buy some at $0.054. Looks like it's going to clear this critical level of resistance around $0.05, but where it goes I have no idea. I think this is called sadomasochism.

 :whip 

Previously, I liked the potential of DD, and it has a relatively low market cap compared to most other U hopefuls. Plus, it has gold. I like gold. 

I'm not sure why I'm putting this up here because this stock has burnt many a punter. I've been tampering with it for 10 years and have been lucky to be in front. So far. 

I suppose in the least it's a trading opportunity. 

Volume has been quite high very recently. 

Enter at own risk!


----------



## michael_selway (6 January 2007)

kennas said:
			
		

> One of the few to be green yestey.
> 
> Around $0.05 is a critical level for AEX. Looks to be pushing on. Good vol. The only thing that might be pushing it is imminent results from DD, whether they're good or not....
> 
> I hate following this stock!!!!!!!!!!!




Hate might turn to love soon   

thx

MS


----------



## Sean K (8 January 2007)

michael_selway said:
			
		

> Hate might turn to love soon
> 
> thx
> 
> MS



LOL!    Down 10%. I LOVE THIS STOCK!!! 

It's so painful it's funny. I am going to find some way of making money out of this if it kills me! Aaaahhhhhh!

Michael, next time I say I've bought some you should short it for the inevitable slide, and so that we keep the money with ASF.    

Just curious, are you still holding?


----------



## Gurgler (8 January 2007)

Still holding since 7 Nov! I can understand your frustration over its lethargy.

But isn't this exciting, it's above purchase price - for now!

G


----------



## constable (8 January 2007)

surprised to see the options held up...in reguards to the sp i would have thought with its current trend and volumes anywhere between 4.6 to 4.9c would be good entry points even if it pulls back again tommorow. I think there's still a few buyers waiting to ride on this one. Tight stops are still the order of the day ! 
Kennas , i feel for you buddy ....I was tempted myself last week but 10 times bitten 11 times shy. 
Tomorow all will be forgotten and i'll probably have a crack if it dips to 4.7c


----------



## Sean K (8 January 2007)

constable said:
			
		

> surprised to see the options held up...in reguards to the sp i would have thought with its current trend and volumes anywhere between 4.6 to 4.9c would be good entry points even if it pulls back again tommorow. I think there's still a few buyers waiting to ride on this one. Tight stops are still the order of the day !
> Kennas , i feel for you buddy ....I was tempted myself last week but 10 times bitten 11 times shy.
> Tomorow all will be forgotten and i'll probably have a crack if it dips to 4.7c



I'm just trading this for entertainment value now. It makes me laugh. And then cry.


----------



## mmmmining (8 January 2007)

Easy to get hurt when the stock is acting against you, tease you, and outsmart you. When the stock is on "B" list, no need to worry. Easy way to get out is don't play "B" stock.


----------



## mmmmining (13 February 2007)

I just was acting against my principle, I just bought a few AEX, even I considered it as grade "B" stock.

The reason is that seeing all Grade "A" stocks are skyrocketing, while this "B" stock is not going anywhere.  So I talked to the company after a few attempts. I did not get much more info, but I was pointed an overlooked report ann. on 20/7/2005. It was the beginning of uranium/gold story of AEX.

I have studied it over the weekend. The uranium grade is low, the width is low as well. By average the width looks like less than 1m. Put these into context, the first drilling results were no surprise. 

I guess a few facts charmed me:
1. Gamble (being surrounded by casinos recently)
2. Minerals closing to surface
3. Contained gold might make it economic viable
4. lagging against other uranium stocks (maybe a dog?)

OK, the news I am wait for is lots of drilling results. So they can indicate the resources, at least half of the referred resources.


----------



## kerosam (13 February 2007)

sold my holdings today for another stock... at a 25% loss   

but then, still wish you the best with this one.


----------



## mmmmining (14 February 2007)

kerosam said:
			
		

> sold my holdings today for another stock... at a 25% loss
> 
> but then, still wish you the best with this one.




Not particularly worried, thanks anyway. I bet multiple horses, this one might be the hopeless one. Give it a go. But I didn't bet my house on it.


----------



## exgeo (14 February 2007)

well, the latest programme (1000m) sounds kind of small to extend the resource, esp. as it is to be "tight spaced" (from the most recent qtly, 31/1/07). AEX have a history of getting some good projects but then doing nothing with them. For example Wingellina nickel that they only put 1 (that's "one") hole into in 2 years, before divesting it to MLX. How deep is this thing? If it's an open pit it might be a goer based on a gold resource at 2.5g/t with uranium credits. But a 1m thick resource needing underground mining on that kind of grade is pretty skinny.

Previously when Wingellina was their focus, I noticed that their qtlys were long on geological history, but short on what THEY were actually planning to do with it. It seems nothing has changed with Denny Dalton.

Might be worth a punt (I'm not a holder), but it would only be a punt. I've watched the company because I used to work for them as a geo, but I don't know anyone who works there now, so can't comment on the current management.


----------



## Kauri (14 February 2007)

Exgeo...
   Thought the company might have changed with the exit of Matich and Wheeler, but seems to be the same old pattern. Was Wingellina ever really taken seriously, seemed a bit of a blind to me at the time. Water for any plant would be a massive problem, the same sort of problem facing the other prospective mining areas now being talked up between Wingellina and Warburton. And transport of any ore/concentrate. 
   (You weren't the geo who dropped in to Irintju with Matich in great style in a chopper were you?)


----------



## exgeo (14 February 2007)

Well when I was working there I sometimes used to think "where the hell to they find these things" (projects), but perhaps they were not so good at picking up the ball and running with it. They brought Lake Maitland (Mt Joel) uranium to Acclaim for example. RPT later got taken over by Mega Uranium only on the basis of LM. Unfortunately at that time Uranium was worth bugger all. That's why I ended up doing other things such as stock speculating, rather than geo-ing.

MLX (who I own) are doing the right thing at Wingellina and drilling lots of holes to prove up a resource, and extend it. There really is a s**tload of nickel there, admittedly in the a*se end of nowhere. Try 20km of drilling per qtr compared to 1 hole in 2 years! Don't know who Wheeler is, but Brett Matich's offsider (who really moved things apparently) was Mich Shimessian. Never shared any helicopters, but had a few drinks once.


----------



## Kauri (14 February 2007)

Exgeo..

          When you were with them did they have access to the 100,000+ mtrs of drill assays done in the 60's when the deposit was first identified?


----------



## exgeo (14 February 2007)

They didn't have either Wingellina or Denny Dalton at the time I was there. But the quality of 1960's drilling, assaying and record-keeping means that a lot of that work would have to be repeated to be useable in a JORC resource today. This is true for any project or company.


----------



## Kauri (14 February 2007)

Exgeo..
              Just wondering, does crysoprase and nickle go hand in hand? As you know on the hill just out the back of Wingellia is the old crysoprase mine, and out the back of Jameson where WMC/BHP's Nebo is is another old crysoprase mine.
If it is more than coincidence then there is another area off the beaten track a bit, in the same general location, where if you kick a few rocks there is a mass of crysoprase, (which has never been mined). Maybe I should head off with a hammer and a few pegs...


----------



## the barry (20 February 2007)

Does anyone know what caused my latest bout of flase hope with this stock. Solid run at the end of the day. Could those mysterious drilling results finally be coming out?


----------



## mmmmining (20 February 2007)

There is a trading halt. I believe it is the release of drilling results.

I believe it will like very bad if not put in context of historic data. The historic data shows only less than 1m width, but spread all over place, most in about 20m from surface, with average grade about 0.5lb/t.

According to Exgeo, it is good for open pit mining. 

I bought some a few weeks ago against my will after exposing to casino for too long time. But anyway, who cares, money is not everything, sometimes, we need some fan! (tuition fee)


----------



## rederob (20 February 2007)

mmmmining said:
			
		

> There is a trading halt. I believe it is the release of drilling results.



Their release says "acquisition of mining tenements".
Maybe drill results come later.


----------



## mmmmining (20 February 2007)

rederob said:
			
		

> Their release says "acquisition of mining tenements".
> Maybe drill results come later.



Thank you for correction. I might drink too much.


----------



## the barry (20 February 2007)

rederob said:
			
		

> Their release says "acquisition of mining tenements".
> Maybe drill results come later.




Sorry, where abouts did you gain this information?/?


----------



## mmmmining (21 February 2007)

the barry said:
			
		

> Sorry, where abouts did you gain this information?/?



Ahha, second page of the ann.


----------



## laurie (21 February 2007)

the barry said:
			
		

> Sorry, where abouts did you gain this information?/?



It was released on the ASX site tonight at 7:31pm which begs the question why a trading halt to announce more land acquired    

cheers laurie


----------



## the barry (21 February 2007)

laurie said:
			
		

> It was released on the ASX site tonight at 7:31pm which begs the question why a trading halt to announce more land acquired
> 
> cheers laurie




Thanks mate


----------



## Sean K (22 February 2007)

Ann out:

Acquires rights to 25% of the Angela and Pamela uranium tenaments in the NT.

Good news for long suffering AEX holders I feel.


----------



## Sean K (22 February 2007)

kennas said:
			
		

> Ann out:
> 
> Acquires rights to 25% of the Angela and Pamela uranium tenaments in the NT.
> 
> Good news for long suffering AEX holders I feel.



And maybe not. Hardly moved the sp.....No one seem to like poor old aex in the slightest. Concerning....


----------



## alankew (22 February 2007)

Kennas looking at the announcement it seems as though it is the land that Mcleary(the irishman)pegged out.If its the same land this was supposed to be worth shedloads of money and was highly sought after by several big companies.Ann says that legal action is pending/in progress-seems like the coup of the year or am i missing something?


----------



## Sean K (22 February 2007)

alankew said:
			
		

> Kennas looking at the announcement it seems as though it is the land that Mcleary(the irishman)pegged out.If its the same land this was supposed to be worth shedloads of money and was highly sought after by several big companies.Ann says that legal action is pending/in progress-seems like the coup of the year or am i missing something?



Yeah, when I read the ann I was high fiving myself all around the living room. Then had to relax when there was no interest.... Strange. Perhaps not as good as it seems...


----------



## alankew (22 February 2007)

Think perhaps people cant believe it or maybe concerned about the legal issues. Maybe an update on the TV news will jolt people into realising it is the same land.


----------



## the barry (22 February 2007)

kennas said:
			
		

> Yeah, when I read the ann I was high fiving myself all around the living room. Then had to relax when there was no interest.... Strange. Perhaps not as good as it seems...




The announcement shot the other company up over 50 percent on the news that they had acquired a 50 percent stake. It makes no sense. I can't follow this stock.


----------



## Sean K (22 February 2007)

the barry said:
			
		

> The announcement shot the other company up over 50 percent on the news that they had acquired a 50 percent stake. It makes no sense. I can't follow this stock.



Which is the other company Barry? Or, is that Crocker?


----------



## bigt (22 February 2007)

segue wasn't it?


----------



## the barry (22 February 2007)

kennas said:
			
		

> Which is the other company Barry? Or, is that Crocker?




The other company is segue, have a look. It took a 50 percent stake. It has since pulled back a bit from highs of 1.40.


----------



## chris1983 (22 February 2007)

I think they are worried about the legal issues.  They may still have nothing which would be a major blow


----------



## Brissydave (23 February 2007)

I hold AEXO, but I fear this is just proof that the reputation that AEX gained (or reinforced) last year with their shenanigans, can effectively put a damper on any announcement .... so I wonder what can move the share price (up).

I am still hoping though ...

Cheers ... Dave


----------



## davec (23 February 2007)

any idea of when the court decision will be announced. the hearing was scheduled for 9 and 12 Feb but i haven't heard any result.


----------



## Kauri (23 February 2007)

davec said:
			
		

> any idea of when the court decision will be announced. the hearing was scheduled for 9 and 12 Feb but i haven't heard any result.




   I think the judge is considering it now, but expect appeals ad infinitum.... which ever way he goes... could be a long drawn out affair...


----------



## the barry (23 February 2007)

davec said:
			
		

> any idea of when the court decision will be announced. the hearing was scheduled for 9 and 12 Feb but i haven't heard any result.




The judge has presently reserved his decision, i believe in the supreme court the judge has up to 120 days to make his decision. Whilst i would not think it would take that long, due to the magnitude of the decision, it could be a while yet till we here his judgement.


----------



## the barry (27 February 2007)

A bit of movement today, i wonder if those long overdue results are finally coming. Anyone heard anything?


----------



## bigdog (27 February 2007)

ASX Trading Halt ann Feb 27 after close

AEX 4:18 PM  Trading Halt 
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00697654


----------



## the barry (27 February 2007)

It is going to be in relation to the "midnight pegger". His claims were thrown out today, not sure wether they will appeal or not. Segue went into a trading halt earlier in the day.


----------



## mmmmining (27 February 2007)

the barry said:
			
		

> It is going to be in relation to the "midnight pegger". His claims were thrown out today, not sure wether they will appeal or not. Segue went into a trading halt earlier in the day.



Barry, Where did you get the news? Thanks.


----------



## mmmmining (27 February 2007)

Just found it.

http://www.abc.net.au/news/newsitems/200702/s1858359.htm

I think there is no impact on AEX because of 14 days of DD. If AEX is smart enough, it should quite the agreement. Norm McCleary is very bad. He knew he did not have the case, try to screw around. Stupid AEX and SEG took the bait.


----------



## the barry (27 February 2007)

mmmmining said:
			
		

> Just found it.
> 
> http://www.abc.net.au/news/newsitems/200702/s1858359.htm
> 
> I think there is no impact on AEX because of 14 days of DD. If AEX is smart enough, it should quite the agreement. Norm McCleary is very bad. He knew he did not have the case, try to screw around. Stupid AEX and SEG took the bait.




I noticed that segue went into a trading halt last night at 7 pm, they must be in a trading halt in relation to something else? They couldn't have known that the judge was going to give his judgment today?
Aex went into a trading halt after the market closed today. So could they be unrelated trading halts?


----------



## mmmmining (27 February 2007)

the barry said:
			
		

> I noticed that segue went into a trading halt last night at 7 pm, they must be in a trading halt in relation to something else? They couldn't have known that the judge was going to give his judgment today?
> Aex went into a trading halt after the market closed today. So could they be unrelated trading halts?




Barry, It is related to the case, as it is mentioned as the reason for trading halt.

 Why it put on trading halt after the market, because they are not efficient, and the company is South Africa Based. They have an office in Perth. When you call them, the team assistant always said they are in meeting = they are not here in Perth


----------



## alankew (30 March 2007)

Huge increase in volume in this for last 3 days(7 or 8 times normal) and already 13million shares traded.Has gone from 37 to 47 in last few days.Only slight rise today but might be worth looking at as a potential breakout


----------



## mmmmining (2 April 2007)

mmmmining said:


> Just found it.
> 
> http://www.abc.net.au/news/newsitems/200702/s1858359.htm
> 
> I think there is no impact on AEX because of 14 days of DD. If AEX is smart enough, it should quite the agreement. Norm McCleary is very bad. He knew he did not have the case, try to screw around. Stupid AEX and SEG took the bait.




Just one thing AEX did it right. Now AEX is up to ground zero again.


----------



## alphman (10 April 2007)

the barry said:


> A bit of movement today, i wonder if those long overdue results are finally coming. Anyone heard anything?




10/4 - still waiting....


----------



## Ken (10 April 2007)

AEX looks a dog stock.

One of very few uranium stocks that hasn't taken off.

Questions would need to be asked I believe in my opinion.


----------



## Sean K (10 April 2007)

Ken said:


> AEX looks a dog stock.
> 
> One of very few uranium stocks that hasn't taken off.
> 
> Questions would need to be asked I believe in my opinion.



Yes, going ordinary Ken, as we have discussed. One of the most underperformed 'potentials' out there, with an inferred JORC and enough inferred gold to warrant it's current market cap. The thing I have noticed looking back through the anns, along with YT, is that the inferred JORC is a pancake style deposit. In places it's centimeters thick. Plus, every time they ann something it turns into bad news. Like the recent A&P EPL debarcle.  

Having said that, I am in front with AEX because I've been trading it off the charts and have never held too long expecting the 'fundamentals' to come through. 

Would be interested to hear other opinions on DD and the fundamentals of it. Anyone seriously reviewed the initial JORC? Cheers.


----------



## davey (28 April 2007)

AEX are completing drilling next week with results to completed in three weeks.With six months worth of drilling behind them this should be the one which turns them into the next pdn hopefully!!!! Phase 3 drilling shouldnt be far away so fingers crossed for excellent results.


----------



## rederob (28 April 2007)

davey said:


> AEX are completing drilling next week with results to completed in three weeks.With six months worth of drilling behind them this should be the one which turns them into the next pdn hopefully!!!! Phase 3 drilling shouldnt be far away so fingers crossed for excellent results.



davey
an interesting initial post from you
how opportune when uranium is #1
not a ramp in sight!
given early drilling was unspectacular - to the point of boredom - we need to see some "glowing" finds announced to turn around this runt of the uranium litter
with uranium prices as high as they are it probably won't take too much get a mine in place
i've always suspected the local farmers were cropping poppies and that a little residue had found its way to the prospectors
no hurry for a good result - join us at DD for a good time - you can make a habit of it if you like!


----------



## Nicks (8 May 2007)

I prefer to base my trading on a little more than crossing my fingers.

I have been holding AEX for a while, not much happening. Should have traded them every time they hit 5c and bought every time they hit 4c.

This one is a gamble stock, if the pancake gets thicker and davey crosses his fingers maybe it will go from 4c to 10 bucks like PDN. Ha.


----------



## countryboy (8 May 2007)

Forgot I held this stock. If I was management I would dump where they send their core samples. How ever they are much closer to a JORC than half of the other U hopefuls in Aus. I think I'll wait till late June and either take some loss for tax or wait for another delay announcement


----------



## davey (9 May 2007)

Sorry guys but i think you are blind to the fact that these guys are miles closer at mining than people like ern and acb which are 2 vastly over priced stocks especially when they are mining in two very unstable countries where the slightest whiff of money stirs up revoulutionary forces need for cash for guns. I have aquired some original documentation relating to the company "Southern Sphere" whom drilled extensively in the 70's and have been studying this in great detail against other Uranium "Players" past drill results and I cannot understand why this stock is so low? 
 The DD tenanment seems to have the potential for a major uranium dump on the outer reaches of the non tested parts of the tenament which wil see this JORC double if not treble.


----------



## alphman (15 May 2007)

Anyone notice the 4.1c buy line on yesterday's open?

One buyer for 2m shares!  The order was only partially executed, but gees, thats a whack and a half!

Could it be someone from management suddenly taking interest in their own company?


----------



## Lion King (15 May 2007)

Lets Hope so.
Ann due very soon and I have a v good feeling about this one.
I must say though it has been very stagnant of late.


----------



## alphman (16 May 2007)

I have a good feeling about the upcoming results too...but then again i had the same "good feeling" about the first stage drill results  LOL!

These guys are sitting on dirt that is potentially worth US$4.5b (US$120/lb U3U8, US$650/oz Au).  If they can prove it, this little baby will not only fly to the moon and back, but may have enough grunt to fly to Mars aswell!

Fingers crossed that we see a 3Y in the coming weeks.  I need some reassurance...


----------



## the barry (16 May 2007)

alphman said:


> I have a good feeling about the upcoming results too...but then again i had the same "good feeling" about the first stage drill results  LOL!
> 
> These guys are sitting on dirt that is potentially worth US$4.5b (US$120/lb U3U8, US$650/oz Au).  If they can prove it, this little baby will not only fly to the moon and back, but may have enough grunt to fly to Mars aswell!
> 
> Fingers crossed that we see a 3Y in the coming weeks.  I need some reassurance...




What upcoming results? By the time they actually release them to the market the uranium bubble will probably be well and truely over. This company is shocking at informing their investors of their progress, or lack thereof.


----------



## alphman (16 May 2007)

the barry said:


> What upcoming results? By the time they actually release them to the market the uranium bubble will probably be well and truely over. This company is shocking at informing their investors of their progress, or lack thereof.




I have to agree with you there.  Their market updates of late have been less than impressive.  Not just their frequency, but also the content.

Having said that, I think the dog has just woken up!

Up 0.5c with 14m volume...!!!


----------



## Brissydave (16 May 2007)

Hey alphman.

as a long term holder ... I can tell you whatever they find, however good the results are ... the management will stuff it up somehow ... maybe issue another 200 million options really cheap to their "mates".

I don't want to rain on anyone's parade, this is just an "old hand" ..... saying I got to be an "old hand", by getting stuck when the management shafted the stock ... repeatedly.

Still I am holding, hoping that the results will be bigger than even "they" can stuff up ... LOL

Cheers ... Dave


----------



## Lion King (16 May 2007)

More buyers than sellers at the moment which is a good sign.
See the 5 million order at 0.044 ($220,000). Lots of money pouring into this at the moment which potentionally signals a positive annnouncement.

Fingers crossed that management do not stuff this up again.

Could someone tell me when the last options were issued and at what price?


----------



## Stackman (21 May 2007)

Lion King said:


> More buyers than sellers at the moment which is a good sign.
> See the 5 million order at 0.044 ($220,000). Lots of money pouring into this at the moment which potentionally signals a positive annnouncement.
> 
> Fingers crossed that management do not stuff this up again.
> ...




Lion King,

I'm also interested in these options. Do you know their limit price. ie, at what price can they be exercised at in June 2008?

Stackman


----------



## Sean K (21 May 2007)

Stackman said:


> Lion King,
> 
> I'm also interested in these options. Do you know their limit price. ie, at what price can they be exercised at in June 2008?
> 
> Stackman



Guys, you get this from their cash flow report. Just go to the companies announcements and look for the last report. The June 08 options are exercised at 5 cents.


----------



## alankew (21 May 2007)

Currently up 10%(5c) on pretty hefty volume.Volume has been increasing on this and results are expected soon.Looks to have broken out of recent price trend(back to Mid Oct last year)


----------



## alphman (31 May 2007)

I found myself with a bit of spare time at work this morning so I thought I'd try to find some info about the Denny Dalton Project...

I ended up skewing my research coz I couldn't find anything meaty on DD.  Thats when I came across a Resource Audit Report on one 'Ezulwini Project'.

http://www.simmers.co.za/asp/images/documents/Ezulwini Final Resource Audit 7 Septmber.pdf (4MB)

Two things caught my attention:

The Ezulwini Project lies on the West Rand of the Witwatersrand Basin.
The audit was co-conducted by Francois Martens.
Francois Martens was the geological consultant contracted by Savannah Diamonds to evaluate the DD mine.  He likened the mineralisation style of Denny Dalton Project to that of the Witwatersrand conglomerates.  I guess this is where the "competent person" declaration comes into play (refer to AEX QAR, 28/04/06).

Anyway, the Ezulwini Project (Middle Elsburg) has inferred resources of 140Mt @ 4.6g/t Au & 0.75kg/t U3O8 for 20.7Moz Au & 235Mlb U3O8, which IMO is very significant.

Martens went on to recommend that "all previous drilling and sampling at DD be verified and better understood" which puts a dampener on things, but still, IMO, I think DD has potential.

I am anxiously awaiting those drill results, which hopefully is not too far away now!!!!

P.S.  My opinions are my opinions only.  DYOR and make your own conclusions.


----------



## Nifty (31 May 2007)

alankew said:


> Currently up 10%(5c) on pretty hefty volume.Volume has been increasing on this and results are expected soon.Looks to have broken out of recent price trend(back to Mid Oct last year)




Buy a million at .04 would be the go,these penny dreadfuls are worth holding long,  one can always hope for a CDU result, Wow!


----------



## Stackman (6 June 2007)

How long must we be kept waiting on these results?? They must be waiting on Uranium to hit $200/lb! Hope its worth the wait..


----------



## alphman (13 June 2007)

News out....not what I expected but still, news is better that no news.  I think this will go down quite well...

http://imagesignal.comsec.com.au/asxdata/20070613/pdf/00729205.pdf


----------



## bruno (15 June 2007)

it appears a purchase for 2mill shares just went thru. Does anyone have any  thoughts on what might be happening?


----------



## bruno (22 June 2007)

AEX has been low volume for a while but traded 3mill shares in last 40 minutes yesterday and opened today with over 3 mill shares going thru.
given their apparent history re announcements any thoughts anyone?
sp gone from .45 late yesterday to .49 this morning


----------



## Wysiwyg (22 June 2007)

bruno said:


> AEX has been low volume for a while but traded 3mill shares in last 40 minutes yesterday and opened today with over 3 mill shares going thru.
> given their apparent history re announcements any thoughts anyone?
> sp gone from .45 late yesterday to .49 this morning




Long overdue resource report SUPPOSED to be the end of this month.

Guinea U holdings to be formerly acquired after due diligence.Ummmm..oh yeah...new managing director too (South African)


p.s. ...some sleepy holders will prolly get woken up on the pop .


----------



## bruno (22 June 2007)

Wysiwyg said:


> Long overdue resource report SUPPOSED to be the end of this month.
> 
> Guinea U holdings to be formerly acquired after due diligence.Ummmm..oh yeah...new managing director too (South African)
> 
> ...




thought that at the satrt wysiwyg but it now appears it might be more that that now. 
10 mill shares already thru and up to .53 and still going


----------



## arkady (22 June 2007)

Obviously some buyers know more than us. Any definate info out there? Already on this at 46 cents on the pending resource announcement.


----------



## the barry (22 June 2007)

arkady said:


> Obviously some buyers know more than us. Any definate info out there? Already on this at 46 cents on the pending resource announcement.




You guys should really consult the chart on this one, one of the best pump and dump stocks going around. Really is the blind leading the blind. Have a look at the number of times the stock has run like this in the past 18 months on the expectation of news, only for none to come and the stock to drift back. No buyers no more than you.


----------



## flyboy77 (22 June 2007)

Excerpt from AEX's last release.......

"The Directors of Acclaim are also please to announce that they have entered into an agreement with Laskara Limited *to acquire the rights to explore and mine uranium in the West African nation of Guinea. The Company has been granted the entitlement to formally survey the entire Prefectures of Mali, Siguiri, Mamou, Kindia, Kissidougou, Mandiana, and N’Zerekore in Guinea and select what it believes to be the most prospective uranium rich occurrences.*

In addition, *Laskara has procured an enormous data base of existing uranium exploration data collected over several decades, including intensive work by Cogema, the French government nuclear agency, since renamed Areva. The data includes previous drill hole data, aeromagnetic survey data and comprehensive geological mapping of the prospective regions in the country*."

Does that not change the outlook of many here?


----------



## flyboy77 (22 June 2007)

*From the Burey Gold Prospectus*
"Since 1996, Guinea has made considerable progress in the restructuring and managing the economy, and in addressing corruption issues. Real GDP growth in 2002 was 4.2% with an inflation rate of 3%. Agriculture which accounts for about a third of Guinea’s GDP, employs about 80% of the workforce, with coffee being the largest export crop and cotton, fruit, cocoa, oil and nuts also exported. Forestry operations have potential for growth.
Agricultural production continues to strengthen as does housing construction with a positive impact on growth figures.
Mining is Guinea’s most dynamic industry sector and its major source of foreign exchange.
*Guinea has abundant natural resources, which includes 25% of the world’s known reserves of quality bauxite, globally significant tonnages of high grade iron ores along with diamonds, gold, and potential for other metals. Bauxite and alumina are currently the principal exports. The country also has sites which offer the potential for the establishment of significant hydroelectric power facilities. Despite excellent economic progress made in the late 1990’s, the fall in demand and drop in prices of bauxite and aluminium, and the
tenuous security situation in neighbouring countries has dragged on the economic performance.*
Guinea's main export markets are in Belgium, Spain, Ireland, Ukraine, Russia and the US.
The Guinean government encourages a free market economy and is implementing a programme of privatisation. It is also active in promoting foreign investment. In 2002, exports amounted to US$ 775.9 million and imports totalled US$686.1 million. The overall fiscal deficit (excluding grants) widened to 8.2% of GDP in 2002 from 7.5% in 2001, owing to expenditure overruns that overshadowed progress achieved in revenue collection. GDP
in 2000 was US$3.1 billion."


----------



## arkady (22 June 2007)

Surely the drilling results can't be delayed too much longer going by that same announcement (13/06/07) mentioned by flyboy77.

"As previously announced, the drilling results from the Denny Dalton Project were anticipated to be released to the company around the end of May. Delays with the drilling program caused by operational issues caused it to extend past the scheduled completion date. Logging of the final drill holes was completed and a total of 675 samples were sent to the laboratory for analysis on the 16th May. Results are expected later this month."


----------



## flyboy77 (22 June 2007)

*More from Burey Gold DD*
Mining Tenure
The 1986 Mining Code was revised in 1995 with a new edition, including a translation into English, issued in October 1997. The code is based on French Civil Law and is comparable to that of other Francophone countries in the region.
The code established a new Government Centre of Mining Promotion and Development (CPDM) which receives international financial support, including substantial sums from the World Bank, in order to harmonise the code with the national legislation standards, to create a national database of
geological information and has included the compilation of new survey data.
Mineral deposits or fossil substances located at or below the surface, underground water and geothermal resources all belong to the State. Holders of mining titles have property rights to extracted substances. The Guinean Mining Code lists five different mining titles:

 Reconnaissance Permit: Allows prospecting of mineralised sites not under any exploration or exploitation permit. Duration is three to six months.
Exploration Permit: Grants exclusive right to explore for all the substances specified in the permit. Area: 250 km ² maximum. Duration: Three years, may be renewed twice for two years each.
Exploitation Permit: Exclusive right and free disposal of all the mineral substances specified in the Permit completed by a Mining Agreement. Area comprises the ore deposit and the surface installations as defined by the feasibility study. Duration: Ten years, renewable for five-year periods.
Mining Concession: Reserved for large ore deposits which involve important investments and scopes of infrastructure as defined by the feasibility study; the grant of the Concession is completed by a Mining Convention. The duration is 25 years, renewable for 10-year periods.
 Artisanal Mining: Allowed only to Guinean nationals on consigned areas.

The State is entitled to a 15% free equity participation in gold, diamonds and gems. Certain minerals defined by the Code (bauxite, iron ore, etc.) carry 0% free equity.


----------



## bruno (22 June 2007)

the barry said:


> You guys should really consult the chart on this one, one of the best pump and dump stocks going around. Really is the blind leading the blind. Have a look at the number of times the stock has run like this in the past 18 months on the expectation of news, only for none to come and the stock to drift back. No buyers no more than you.




whilst i agree with your point barry there is no need to imply people are dumb for asking a question which i thought what this site was about. i recently bought this stock after considerable research  of their new md, the potential of the possible new aquisition in guinea and yes the results of drilling at dd which are due shortly.
for your info i bought at .45


----------



## Wysiwyg (22 June 2007)

the barry said:


> You guys should really consult the chart on this one,




True baz , the charts show dark candles most of the time after a long white.Buyers  in on pending news this move obviously. 

Anyone wanting the s.p. to continue on a rise?


----------



## arkady (22 June 2007)

Thanks Bruno. Not charting and only bought on the pending resource announcement which seems a logical buy for me. Thankyou to barry for his kind comments.


----------



## the barry (22 June 2007)

bruno said:


> whilst i agree with your point barry there is no need to imply people are dumb for asking a question which i thought what this site was about. i recently bought this stock after considerable research  of their new md, the potential of the possible new aquisition in guinea and yes the results of drilling at dd which are due shortly.
> for your info i bought at .45




Sorry, i didn't mean to come across rude. I have been in this stock for close to 18 months and the amount of times the stock has run like it has today for no reason is countless. When i was referring to the "blind leading the blind" i was talking about past history, I wasn't meaning to refer to anyone specifically today. I was just trying to give a warning about this stock. If you look back through the posts you will see what i mean. Not suprisingly, there hasn't been an announcement today and i don't think there will be. Going by the chart they will retrace back again on monday until someone "in the know" buys and starts a rush again. Let the cycle continue. Having said that, these results have to come out at some point. Hope they aren't as average as the first lot.


----------



## bruno (22 June 2007)

the barry said:


> Sorry, i didn't mean to come across rude. I have been in this stock for close to 18 months and the amount of times the stock has run like it has today for no reason is countless. When i was referring to the "blind leading the blind" i was talking about past history, I wasn't meaning to refer to anyone specifically today. I was just trying to give a warning about this stock. If you look back through the posts you will see what i mean. Not suprisingly, there hasn't been an announcement today and i don't think there will be. Going by the chart they will retrace back again on monday until someone "in the know" buys and starts a rush again. Let the cycle continue. Having said that, these results have to come out at some point. Hope they aren't as average as the first lot.




no worries barry, hopefully the tide has turned for this stock. I think the turing point may be the appointment of md and eventually guinea and you never know dd may even have uranium.

have a good weekend


----------



## Dutchy3 (22 June 2007)

This was a buy on the CLOSE today ... STOP 4ish .... potential for resistance around 6.5 .... still a move back to 20 would be nice beyond ...


----------



## alphman (25 June 2007)

Interesting to see the sp hold up today.  I would have thought last week's pumpers are this week's dumpers.  Hopefully today's exchanges have flushed them all out.

There's some big buyers out there at the moment (relative to the norm).

9 6,127,800   0.053 (avg 680,000/buyer)
...
2 1,000,000   0.051 (avg 500,000/buyer)
...

It's good to see that this old dog still has some life in it.  Just a matter of how much and how long?


----------



## sanish (25 June 2007)

Seemed a very uncommited churn day.

Lots of volume as on FRI but capped at 5.4c all day and OPTS at 2.0c as on FRI.

Next few days should determine whats cooking.


----------



## Wysiwyg (29 June 2007)

Wysiwyg said:


> Long overdue resource report SUPPOSED to be the end of this month.





Just to correct my post .... it seems like the report will be coming out as one after the drill results are in and not necessarily the end of this month.




> Logging of the final drill holes was completed and a total of 675 samples were sent to the laboratory for analysis on the 16th May. Results are expected later this month.
> The Company’s exploration consultants, CCIC, *will then submit *a detailed exploration and resource report on the Denny Dalton project. This will include a summary of all drilling, assay results, geological models and resource estimates. This report will be released by Acclaim Exploration as a single announcement as soon as it has been received.
> Yours faithfully
> Neville J Bassett
> Secretary




Last day of the financial year today too.


----------



## alphman (3 July 2007)

I've noticed that this is starting to move again.  But what's with the depth?  It looks to have shed quite a bit of weight...

Calm before the storm?  Maybe its just the constant run ups and run downs that's shaken off all the excess baggage..  :


----------



## the barry (3 July 2007)

alphman said:


> I've noticed that this is starting to move again.  But what's with the depth?  It looks to have shed quite a bit of weight...
> 
> Calm before the storm?  Maybe its just the constant run ups and run downs that's shaken off all the excess baggage..  :




Seriously, what is going on with this stock? They started drilling in november, where are the results? It has been over 7 months 
There correspondance with their shareholders is shocking. Anyone want to take a punt on when the results will actually come out?


----------



## countryboy (3 July 2007)

yep as i have said before on some other sites...end of June .....2012
Patience is a virtue with this stock


----------



## bruno (3 July 2007)

the barry said:


> Seriously, what is going on with this stock? They started drilling in november, where are the results? It has been over 7 months
> There correspondance with their shareholders is shocking. Anyone want to take a punt on when the results will actually come out?




does anyone have any idea how long it takes to compose a report. drilling results were due at end of june then ccic to compile resource report with aex to release as one ann.
that leaves no real time frame for when ann is due.
i should add im still happily holding as i havent had aex for that long and im more interested in the guinea side of things but i can see why people are getting a bit upset


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## bruno (3 July 2007)

strange end to today it appeared (according to my brokers site) that somebody has gone in late in the day and bought up all the stock that was listed at .047  about 1 million shares.


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## bruno (5 July 2007)

dont know whether this is good bad or otherwise but purchase of 5 million shares at .047 just went thru.
Any thoughts


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## alphman (5 July 2007)

bruno said:


> dont know whether this is good bad or otherwise but purchase of 5 million shares at .047 just went thru.
> Any thoughts




Very interesting!  It was a crossed trade.  I wonder if it's one of the directors??  

There was one at 0.044 a month or two ago (read previous posts) but i don't think it went through.  Wonder if it's the same person???


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## the barry (5 July 2007)

bruno said:


> dont know whether this is good bad or otherwise but purchase of 5 million shares at .047 just went thru.
> Any thoughts




I have a thought, at this rate the uranium boom will be long gone before we hear anything from this company. Seriously, what are they doing with their time?


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## alphman (5 July 2007)

My hunch is they've come short of the 11,000t they've boasted about and their recent "operational issues" is to buy time so they can redrill some holes so they can increase the estimate.

These guys know they only have one chance at this.  IMO, it's a do or die situation for them.  

This has always been a gamble stock for me, so I'm happy to wait however long it takes for them to get it right.

The only thing is, the longer I wait, the higher my expectations, the lower my confidence...


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## bruno (5 July 2007)

alphman said:


> My hunch is they've come short of the 11,000t they've boasted about and their recent "operational issues" is to buy time so they can redrill some holes so they can increase the estimate.
> 
> These guys know they only have one chance at this.  IMO, it's a do or die situation for them.
> 
> ...




alphaman,
 what do you think of there prospects in guinea in the new md?
from what i have been able to research it seeme dto be a step in the right direction


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## alphman (5 July 2007)

bruno said:


> alphaman,
> what do you think of there prospects in guinea in the new md?
> from what i have been able to research it seeme dto be a step in the right direction




Don't know much about Guinea.  All I know is that Nova Energy and Murchison United are they as well, but their projects are all in the early exploration stage.

The new managing director does seem very interesting though.  Ralph Bagirathi was appointed CEO Africa for Brinkley Mining back in January.  He has experience in "mine management, project development and project finance".

So why would Acclaim need a managing director with this experience if they weren't in a position to take DD to the next level?  They've gone this far without an MD so why now?  Also, Ralph had a pretty sweet position at Brinkley and if DD (or AEX) was a dud, why would he quit is job over there (after only 6 months) to join a dud?  I'm sure this guy knows better.

Personally, I think there is more to it than meets the eye.  There is something going on and not enough being said...


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## bruno (5 July 2007)

alphman said:


> Don't know much about Guinea.  All I know is that Nova Energy and Murchison United are they as well, but their projects are all in the early exploration stage.
> 
> The new managing director does seem very interesting though.  Ralph Bagirathi was appointed CEO Africa for Brinkley Mining back in January.  He has experience in "mine management, project development and project finance".
> 
> ...





agree totally alpha, and whilst i viewed guinea and ralph as postives i like to see some news re guinea aquistion.


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## alphman (5 July 2007)

bruno said:


> agree totally alpha, and whilst i viewed guinea and ralph as postives i like to see some news re guinea aquistion.




Hi Bruno,

My views on Guinea... 

FOR: 
- Spread operational risk across multiple projects (DD alone is too risky)
- Grow the company through acquisitions (provided they make the right choices)

AGAINST:
- Denny Dalton has lost about 6 months of progress due to delays.  They need to focus on this one to bring it back on track.
- These acquisitions aren't free so there will no doubt be some (more) dilution when it happens.  Even more when they start working on them.

Not much excitement for me in the short term.  Long term perhaps, but like I said earlier, this is a gamble stock so long term is out of the picture for me...


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## bruno (5 July 2007)

alphman said:


> Hi Bruno,
> 
> My views on Guinea...
> 
> ...




good points alpha,
heres hoping the dd annoucment is positive then and that mr bagirathi brings some quality management skills to aex


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## bruno (16 July 2007)

And with an announcement "imminent" AEX has increased volume since about 12 oclock, could be a very interesting afternoon re the announcement.


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## the barry (16 July 2007)

bruno said:


> And with an announcement "imminent" AEX has increased volume since about 12 oclock, could be a very interesting afternoon re the announcement.




If only i had a dollar for everytime that has been posted........ lol. Has to come out some time soon??? They say good things come to those who wait, these results must be really, really good.


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## alphman (17 July 2007)

Hey guys,

With the results looming closer and closer, here's some food for thought...


*The Upside*

Will we see $0.20?

These guys already have JORC inferred resources of 11,025t U3O8 and 2.5moz Au.  With the amount of drilling that has taken place over the past 8 months, we should see some resources move to the "indicated" and potentially "measured" status in their upcoming resource estimate.

_If the resource estimate is maintained above 10,000t (22mlb) U3O8_, it will not only extinguish all the doubts and negativity the market has towards the company, but it will also position it in line with BLR, EXT, BMN, and MLI in terms of resource, ahead of BLR and EXT in the timeline, but behind BMN and MLI.

BLR Market Cap ($0.20): $140,000,000
EXT Market Cap ($0.80): $147,000,000
BMN Market Cap ($2.75): $400,000,000
MLI Market Cap ($0.70): $480,000,000​
Assuming the average "enterprise value per pound" for the Uranium industry is $10 (see footnotes) and this is being conservative, at 22mlb of resource, we get an EV of $220m which falls within range of the above companies.  *This equates to $0.33 per share, or $0.20 on a fully diluted basis.*

Denny Dalton also has gold credits that cannot be dismissed, and this will give the company more reason to trade at or above the $0.20 mark.

Going by the above simplistic valuation, which is by no means accurate nor professional, one can imagine that we could see $0.10 even with 5,000t, but reality will probably see Mr Market punish those who had any hope.


*The Fall*

AEX have a significant holding in MLX (22,500,000) which at $0.44 is worth $0.015 per share.  They should also have about $1.5m left in the bank which is equal to $0.002 per share.  *This brings the absolute bottom line at worst case scenario to $0.017*.  This assumes that Denny Dalton has zero value and the same for everything else they got going for them (property, equipment, new MD, Guinea, etc), which is highly unlikely.


*My Personal Conclusion*

IMO, the impact of the upside is far greater than the impact of the fall, however the probability of seeing the fall is greater than the probability of seeing the upside.  I continue to hold my small parcel with my fingers and toes crossed.  I just wish they'd end this misery already and release those results!



Disclaimer:  
I have no qualifications in this area and often don't know what I'm talking about.  Do your own research and make your own conclusions.


Footnotes:  
http://www.extres.com.au/documents/Announcements/EXT_15062007_rev1.pdf


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## bruno (17 July 2007)

Nice post alpha and youve made some good points. As i have said before i have only held aex for a short time and still hold a postive outlook for the company but i can see why people like barry get frustrated. These guys released a statement over a week ago that the results of DD are "imminent" which by defintion means they are at hand or about to happen so in my opinion over a week is well and truly long enough.
I have three opinions on the delay:
1) That ccic are dragging there heels in completing the report to AEX hence the delay 
2) The report is fantastic and AEX are trying to figure out the best way to deliver to the market (this is the wishfull thinking opinion)
3) That the results from DD arent flash and they are pushing back the announcement so it is either close or coincides with the Due Dillegence period of there acquistions in Guinea so they can balance with some good news.

Only my opinions and would be interested to hear what others think.


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## Wysiwyg (17 July 2007)

A sleeping beauty by definition :-  Sleeping Beauty.......A company that is prime for takeover but has not been approached by an acquiring company.

And lets not hold our breath 

Surely the amount of resource will be greater, but market sentiment, as Alph pointed out, is always a deciding factor.Fair comment Alph.



> but reality will probably see Mr Market punish those who had any hope.


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## alphman (18 July 2007)

> ...the Company’s exploration consultant CCIC has formally informed the Company that these results are now imminent.






I think this basically means that CCIC have everything they need now from SGS (ie. no more delays) and that they are in the final stage of compiling all the data and preparing the technical report.  If they were still waiting on SGS, then CCIC would have said just that rather than take a hit for them.  For "imminent" to be interpreted as being immediate I think is wrong.  There is a lot of data to work through and a technical report of this size would take time to write and validate.  How long I dont know but my guess is two weeks, three weeks max??

If you look back through their previous announcements, first phase drill results took 7 weeks (from 31-Aug-06 to 19-Oct-06) for 896 samples.  On 16-May-07, the final 675 samples were submitted to SGS.  Assuming this takes 7 weeks to process due to backlog/delays, we get 04-07-07.  6th July, the above announcement made.  Makes sense to me.  Two weeks from the announcement is this Friday so I'd say that we'll see it either end of this week or next week, but then again who knows...

Guinea due diligence period expires tomorrow so they may wrap it all up in the one announcement.  One thing I know is that this will be a massive announcement regardless and it might not be easy to make a buy/hold/sell decision.



> The Company’s exploration consultants, CCIC, will then submit a detailed exploration and resource report on the Denny Dalton project. This will include a summary of all drilling, assay results, geological models and resource estimates. This report will be released by Acclaim Exploration as a single announcement as soon as it has been received.


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## bruno (20 July 2007)

Hi Alpha,

Cant disgaree with your time anaylsis re the results and anaylsis i just think with there apparent track record re these things they shouldnt have use the word "imminent" because as i said the defintion is "immediate, to hand or about to happen" which then raises shareholders expectations I think they would have been better off just saying they are expected by the end of July or in 2-3 weeks maybe?
And yes it is going to be tough (but isnt that half the fun) trying to make a buy/hold/sell decision when the ann is finally out


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## alphman (20 July 2007)

Agreed - they definitely need to cut the crap.

Anyway, I've noticed quite a few companies have used "imminent" in their announcements.  It must be a "buzz" word in the industry.  Of course, when it becomes such a thing, people tend to use it in the wrong context...


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## Wysiwyg (24 July 2007)

alphman said:


> Agreed - they definitely need to cut the crap.
> 
> Anyway, I've noticed quite a few companies have used "imminent" in their announcements.  It must be a "buzz" word in the industry.  Of course, when it becomes such a thing, people tend to use it in the wrong context...




Hows it goin` chaps:bekloppt:....mastered the imminence yet?:cussing:

I reckon that every stock with the letter `X` in the code has posted something in the last 6 weeks except the `ol AEX.
An interesting observation I have made is the varying  degrees of tolerance and patience.Waiting drives people crazy.esok:


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## bruno (24 July 2007)

Wysiwyg said:


> Hows it goin` chaps:bekloppt:....mastered the imminence yet?:cussing:
> 
> I reckon that every stock with the letter `X` in the code has posted something in the last 6 weeks except the `ol AEX.
> An interesting observation I have made is the varying  degrees of tolerance and patience.Waiting drives people crazy.esok:




The more time that goes buy the more i think option 3 i posted on the 17 july looks like the likely outcome. Only my opinion and i hope im wrong


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## alphman (26 July 2007)

Woohoo!  PoU now US$120/lb.  Down US$10 from last week.  Biggest fall so far!!!!  Just in time for the drilling results!!!  

:swear: :swear: :swear: :swear:


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## bruno (30 July 2007)

ann out late today re delay in dd results. 

looks like more waiting in store for all holders.
oh well they say patience is a virtue


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## Wysiwyg (30 July 2007)

alphman said:


> Agreed - they definitely need to cut the crap.
> 
> Anyway, I've noticed quite a few companies have used "imminent" in their announcements.  It must be a "buzz" word in the industry.  Of course, when it becomes such a thing, people tend to use it in the wrong context...




If I had a million dollars I would say that it is all bull****.I haven`t.  I`ll say it anyway.Full of ****.

Reason?.....You *DO NOT *tell the company and shareholders lies such as imminent and then say more delays.*Integrity* is priority in communication.FLUNK.

Where are the average persons rights here?
Answer =  I have none.


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## Wysiwyg (30 July 2007)

Wysiwyg said:


> If I had a million dollars I would say that it is all bull****.I haven`t.  I`ll say it anyway.Full of ****.
> 
> Reason?.....You *DO NOT *tell the company and shareholders lies such as imminent and then say more delays.*Integrity* is priority in communication.FLUNK.
> 
> ...





THE CORRECT COMMUNICATION TO SHAREHOLDERS TWO MONTHS AGO IS.....

Due to workload and upgrade there will be a considerable delay in processing of drill samples and resource estimates.


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## king.jackson (30 August 2007)

Looks like things are picking up again for AEX.

Any thoughts? Maybe something cooking in the kitchen and the smell is starting to drift into the dinning area!...


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## Wysiwyg (30 August 2007)

king.jackson said:


> Looks like things are picking up again for AEX.
> 
> Any thoughts? Maybe something cooking in the kitchen and the smell is starting to drift into the dinning area!...




No they are not picking up.
	

	
	
		
		

		
			





I must have passed the AEX wishful thinking on to you.Good luck byyyeeeeeeeeeeeeeeeeeeeeeeeee.


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## king.jackson (30 August 2007)

Wysiwyg said:


> No they are not picking up.
> 
> 
> 
> ...





Well if you managed to pick them up at 2.5 last week they certainly are 

Buy low sell high. Looking at the graph it looks to be time for an uptrend.


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## the barry (8 September 2007)

No one commenting on the drill results that were finally released, if you still hold these you wish they werent. Serioulsy what a crap announcement. 10 months in the waiting for that. What a joke. These will get smashed come monday.


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## Ken (1 February 2008)

Fair to say this stock is dead and buried for a while.

No interest from forum goers or traders....


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## jonojpsg (21 May 2008)

Thought I'd better resurrect this old dog and let people know that the SP has doubled from lows of 1.1c up to 2.5c today in the last two weeks.

They are farming in to some oil/gas plays in Texas now - don't know what's happening to their uranium?

Maybe worth a look.


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## the barry (21 May 2008)

jonojpsg said:


> Thought I'd better resurrect this old dog and let people know that the SP has doubled from lows of 1.1c up to 2.5c today in the last two weeks.
> 
> They are farming in to some oil/gas plays in Texas now - don't know what's happening to their uranium?
> 
> Maybe worth a look.




Wow!!! Now it only needs to double and I will be back to my entry level. Happy days indeed, might keep the champers on ice for a little while yet.


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## jonojpsg (22 May 2008)

the barry said:


> Wow!!! Now it only needs to double and I will be back to my entry level. Happy days indeed, might keep the champers on ice for a little while yet.




He he, yep I know what you mean.  My wife bought in at 4.8c on my recommendation (based on all that U and Au they supposedly had in Denny Dalton!!!) and has been bashing me about ever since  

I keep reminding her DYOR but it hasn't seemed to help 

Maybe I'll get out of the bad books yet


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## Sean K (22 May 2008)

Classic.

They were originally a gold company, that turned into a U player, then sold the best asset to PDN, and went back to gold, and then went back to U, and now they want to be in O&G... 



Next thing you know they'll be iron ore, or be turning to biomedpotashiumano.


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## grace (22 May 2008)

I think from memory "The speculator" just picked these up in his paper portfolio.  He had quite a following in The Bulletin Magazine, but does not seem to be doing as well in Money Magazine.  He has an online column every Wednesday too.  He wrote this one up yesterday I think....


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## kenny (22 May 2008)

Here's the excerpt for those interested.

sp hasn't followed through today so the "Speculator Effect" may have been the driver yesterday.

Cheers,

Kenny

Disc. We don't hold AEX.



> By David Haselhurst, ninemsn Money
> May 21, 2008,
> 
> Companies with very low-priced counters are down near the bottom of the pile because they've under-achieved on their earlier promises and they probably have a huge amount of issued paper weighing down the market.
> ...


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## pan (25 May 2008)

G'day all

surprised the company didn't increase more on the article in money magazine. Saw what happened to Modena a few weeks ago and they went up 25%.




kennas said:


> They were originally a gold company, that turned into a U player, then sold the best asset to PDN, and went back to gold, and then went back to U, and now they want to be in O&G...




Kennas you hold any? I see you have them in the stock tipping comp?


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## Sean K (26 May 2008)

pan said:


> Kennas you hold any? I see you have them in the stock tipping comp?



No, not holding any. AEX was about the 3rd stock I ever bought some time ago. Been an interested follower for 10+ years. Have traded it successfully at times, and invested in it poorly at other times. Personally, I would not 'invest' in this as a buy and hold as management seem to be a bit schitzophrenic. They have never been able to bring anything to production from what I can tell. Pretty poor score card so far. I'm not sure if it's worth betting against the trend. On the other hand, maybe they finally get it right??


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## sambek (11 January 2010)

Long time since this company got a mention... Bit of news with an aquisition may see it move...
at .6 of a cent it certainly has a long way to go to heal the many wounds over the last 4 years...


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## theresem411 (3 March 2010)

Just wondering what everyone's thoughts are regarding this one....it's had a fairly positive move lately....


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