AEX 0.00% 1.1¢ acclaim exploration nl

:: AEX ::, page-5

  1. 71 Posts.
    Some new faces - good one.

    The conspiracy theory lives (obvious isnt it)

    We calculate 50-80 holes unannounced.
    PGE report is due "June Q" - PGE assays take alot longer and apparently they are usually done overseas (more credibility for PGE assays ).
    The granite gneiss intersection is no big deal ( The Nugget is back shortly - he has the info on this - maybe he can elaborate ).

    Its interesting times for AEX.
    Dont believe this Dec Q smokescreen.The JORC standards are nice and pretty but a major wont be waiting for 500 MT to be measured up to JORC.
    2 of the leading contenders for Ni mine development are Nakety and Weda Bay.

    Nakety was sold to Norilsk for A$90 mill last year - it was defined on 872 drillholes (Wingellina - INCO drilled 2550/AEX reported about 45 so far) resulting in @250 mill tonnes.Measured/Indicated - 34 MT
    Inferred -200 MT

    Weda Bay has a JV with the OM Group and is in the process of conducting a feasability study (AEX are now conducting a PRE feasibility study ) It has @215 MT.
    Measured/Indicated - 133 MT
    Inferred - 82 MT

    Wingellina
    Measured/Indicated - 124 MT
    Inferred -400 MT+

    My point is a major(s) ( they have been "talking" for at least 2 mth now) is not going to wait for JORC.
    Why have AEX suddenly said DEC Q (finish drilling etc ) for a sale - when 7/5 they said "2-3 mth drilling finish etc ??(which would mean July/Aug finish.)
    A smokescreen.
    What would AEX do if they stuck to their original "2-3 mth finish" and no sale achieved - look silly sitting there doing zip - why not keep drilling etc(can only increase the Wingellina value) and not look desperate for a sale ( AEX have approx $1.8 mill cash to see out the Dec Q).You could understand the drilling etc taking a mth or so longer than expected BUT adding on 5-6 mths doesnt make sense.

    Ed knew what he needed to know (economic PGEs/Sulphides/or maybe just excellent oxide grades and leaching results ) to sell Wingellina when he began" discussions with global mining companies" 2 - 3 mth ago.Otherwise he would have stuck to quietly proving up the resource.

    Something dramatic happened to suddenly have the confidence to float off FOX and then 3 mth later sound the trumpets that Wingellina is up for sale

    Call it wishful thinking but the evidence is there IMHO.

    Think about this - It highlights Wingellinas value to a major.Nugget has touched on this.

    They want 50000 tpa at 1.0 % Ni for 20 yr +.

    AEX see 1.0 % as economic.
    With upgrading (Uncle Eg has continually said they will mine the higher grade resource 1st) -
    AEX could have 100-200 MT at 1.5 %
    Therefore (conservatively using 100 MT) 100 MT at 1.5% Ni ore =
    1.5 MT contained Ni giving 75000tpa for 20 yrs.

    Then we have another 400MT+ at 1.0% to mine !!

    The market doesnt appreciate yet the profitability of the atmospheric leaching as opposed to HPAL.
    (TTS - www.geostarmetals.com)




 
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