chart, page-12

fbt - what grades do you think the market is expecting?? I don't think the market is expecting anything of significancel from AEX - unlike prior to the last announcement.

I'm not suggesting the SP can't tank, but I do think the expectation is different this time around.

Just testing extensions of the MCR last time around shows they have U offshoots (though weak) - punters were just p@@ssed off that management hadn't tried to define their resource with that round of drilling- that was the expectation that was not met.

The market knows AEX will come up U, albeit with poor grades at shallow levels - realistically between 250-400ppm.
The market is waiting for a sign that it can be a profitable producer at some point in the future.

The question is not whether they have U, but whether they have it in economic amounts to warrant digging it up. The shift in the U world is to look for shallow U even with poor grades - it is proving more economical to mine sh1t U than punch down 400-800m in Cananda. AEX will be looked at after this round of drilling - no doubt

I do not blame anyone for selling into the news - a tried and tested way to make money, and at the end of the day that's what we are here for.

Happy trading to you.