AEX - Acclaim Exploration

[king.jackson]

No they are not picking up.

I must have passed the AEX wishful thinking on to you.Good luck byyyeeeeeeeeeeeeeeeeeeeeeeeee.

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.

 

[the barry]

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.

 

[Ken]

Fair to say this stock is dead and buried for a while.

No interest from forum goers or traders....

 

[jonojpsg]

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.

 

[the barry]

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.

 

[jonojpsg]

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

 

[Sean K]

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.

 

[grace]

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....

 

[kenny]

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.

Such a stock is Acclaim Exploration NL (AEX.AX) , which has dallied about for more than a decade on mineral exploration in Western Australia and darkest Africa with a conspicuous lack of commercial success. Times are changing, however.

At .022c a share, Acclaim carries a market capitalisation of $13.22 million. At the end of the latest March quarter it had net cash of $1.45 million, plus saleable investments with a market value this week of $9.9 million, or net cashable assets of $11.35 million.

The saleable shares comprise a holding of 22.5 million Metals X Ltd (MLX.AX , 0.430, -0.010, -2.270%) trading around 44c each. Metals X is refurbishing Tasmania's Renison tin mine with the world tin price now around record levels at $US24,850/tonne.

In addition, of Acclaim’s 650.87 million issued shares, 40 million were issued at 10c but paid to 8c, so a further 2c call is due in the future which would garner another $800,000 cash. (Since it is an "NL" or "no liability" company, the holders of the contributing stock could walk away, but the company could then auction the balance to recover any call due.)

So, when we add up the cashable assets, there's not much of a premium reflected in the current share price for the company's gold and uranium prospecting projects in South Africa and the central African country of Guinea. These are assets that may well be unloaded to realize further cash.

For, last week Acclaim revealed a new direction with a deal (announced on May 14) to farm into various oil and gas projects in Texas. They comprise:

* The Maria Prospect, with the right to earn a 25% leasehold estate and working interest in oil, gas and minerals on 1991 acres "sandwiched" between the 40BCF N SW field (1992 discovery) and the 80BCF Lions Field (1996 ordheim discovery).
* The right to earn a 57.75 interest in the 1600-acre Galveston Bay prospect with a well to test four primary objectives with a total unrisked reserve potential of 12.6 BCF of gas equivalent (risked reserve potential is 5.54 BCF).
* A 25% interest in a production well on the South Sprint field plus two planned wells with a total unrisked potential of 42.16 BCT of gas (or a risked potential of 5.88BCF).

Consideration to be paid will be 140 million Acclaim shares, plus 70 million options exercisable at 4c by June 30, 2010, plus the payment of $US750,000 for its share of the South Sprint prospect.

The company has also agreed to place 150 million fully-paid shares together with 150 million free options (exercisable at 4c by June 30, 2010) to raise $1.5 million. The placement will be made to clients of the London-based equity fund, Aegis Partners Ltd.

Acclaim shares have traded down from a high over 5.5c in the past 12 months to a low of 1c before recent recovery. At 2.2c, and with a new direction into oil and gas, the shares have potential to attract a wider field of punters.

The first well ”” on the Maria prospect ”” is due to spud within two weeks, company sources reveal. The initial test well will be drilled to a total depth of 14,000ft to test two know productive sand strata with potential production assessed as within the range of 30-50BCF of gas equivalent.

I took a plunge on 200,000 Acclaim shares at 2.2c, or a total outlay of $4400 plus brokerage.

 

[pan]

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%.

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?

 

[Sean K]

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??

 

[sambek]

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...

 

[theresem411]

Just wondering what everyone's thoughts are regarding this one....it's had a fairly positive move lately....

 

[frugal.rock]

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??

Any updates on this one?