Yes...the grade and quantity seems to have been grossly undervalued by the market...then of course we have the uranium.
Economically, due to the consistent geological ratios, the uranium is as important as the gold...dig up one, you get the other for free...same goes with the drilling, where results for gold also gives you results for uranium.
Appart from some additional cap ex requirements for the production circuit, in effect, Denny Dalton is as good as two projects for the costs of one.
The point being that each project, be it a pure gold play, or indeed a pure uranium play, would stand up on their own economically...together therefore, they are even more attractive.
As for the market's apparent lack of interest for the obvious potential here...I suspect it is a by-product of their previous history.
Baggage can be hard to shake at times.
AEX was once annointed as a serious contender by the inner circle of a key broking network...but as we now know, things went pear shaped for all sorts of reasons, resulting in some important people losing quite a bit of money.
Like salt in a wound, the situation was only exacerbated by the success of PDN and realisation of the error made, giving the impression that AEX management simply had no idea.
I think in the goodness of time, AEX will be able to make amends with Denny Dalton, which is remarkably similar to Langer Heinrich...in the meantime however, I suspect many serious players are affraid of being stung yet again, so understandably, are sitting it out for now.
I seriously do not believe AEX would have spent north of $6m acquiring DD, at a time when gold was under $500, just so that backers could trade it for pocket money in the 5's and 6's.
In my opinion, there has been a very good reason for the apparent selling pressure at this stage in their life cycle. Apart from the cleansing of the impatient types from the register and "management" of supporting shareholder profles, "incentive options" are much more attractive if set at lower levels.
But to whom would such a leveraged incentive be aimed at?
The answer to this question is a company maker.
Cheers!
AEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
