We have had ann after ann saying they have bought this tenement of that tenement, or sold that tenement (Langer Heinrich! for a huge $15K), but have seen nothing to say they have actually really got anywhere with any of them. These drilling results have taken TOO LONG and investors are bored and see that AEX are still years from production (in the unlikely event they ever get there) and may miss the resource & U boom.
The company appears to have been set up more to give the founders/directors an easy life living off the money punters put into the IPO rather than actually progress any real development.
They have acquired the Guinea property though we have no idea what might be there, and I have little faith that the directors would know a dud tenement if they were slapped around the face with it.
I would be amazed if the options are in the money come next June.
AEX Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
