AEX - Acclaim Exploration

[Sean K]

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]

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]

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]

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??

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

 

[Sean K]

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]

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]

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]

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]

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]

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]

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]

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.

 

[Sean K]

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]

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]

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]

Hit a low of 3.5 yesterday.

Where to from here with AEX??

 

[Sean K]

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]

U308 $45 up $1

 

[Sean K]

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]

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.......