Cressey spoke in a very calm, unemotional and factual manner. He outlined the past, where AJQ set about becoming a producer, the present, where AJQ was now a substantial producer, and future, where AJQ was going and how it would get there. He touched on the African project and explained that according to world sentiment Uganda had less sovereign risk than some Australian states. They had a very good rapport with the Ugandan government and he was confident of success. On the NQ and NT. holdings he said that JV partners were being sought and expectations were good. The area they controlled was huge and they would systematically begin relinquishing non prospective area. One would venture to explain that this is normal practice to over apply in order to meet relinquishment requirements. On the convertible notes he said that he saw no problem with funding however due to ASX regulations someone in his position has to be extremely careful about what they say in public speeches at events such as the Qupex lunch. On the share price he pointed out that while it was disappointing there was virtually nil turnover and in his opinion it wouldn't remain depressed for any length of time. Trust this is satisfactory to most.
AJQ Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
