AEX - Acclaim Exploration

[Sean K]

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]

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

 

[surelle]

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

if you hold...do you care?

 

[Sean K]

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]

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]

**** 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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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

 

[Sean K]

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]

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]

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?