undervalued on any number of criteria

Hi folks

Just going over some data tonight and perused a report done by Far East Capital back in November 2006.

In a group of 17 'potential producers':

AEX was the the only company that rated per pound sub US $1 ...the next closest was $3.28 (at the time AEX was 0.62 cents.)

On a rating of Quality AEX rated FAIR. However this rating was given due to absence of project economics

On Value AEX was rated GOOD. Of 19 producers/potential producers AEX rated third. Metex and Monaro both rating ahead of AEX (and interestingly, the authorWarwick Grigor had a substantial holding, and directorship in Monaro, and also owned Metex shares.
So on face value, AEX was rated 1 re companies not held by the author.

On market cap of the 19 producers/potential producers AEX at the time was 3rd lowest.

Since then AEX has moved upwards ..a little. Its peers have moved more.

Where does that leave AEX?

It leaves it undervalued in a uranium/gold boom with an inferred $4 billion resource.

The report also stated that the project had good leverage to the Uranium price but needed more detailed economics.

Those 'detailed economics' will be forthcoming with the upcoming drill results and the 3D Modelling.

AEX is misunderstood and undervalued....due in no small part to Management I might add.

I dont think theres any hurry to get on board this as drill results 'may' be some weeks away.

But worth keeping an eye on nevertheless.

In several months it should be much clearer.