I've refined my calcs as follows.ags have 27 million pounds with...

I've refined my calcs as follows.

ags have 27 million pounds with an inground value of $5.6. That's roughly 12.4 times its current price.

aex have an inground value of $7.36 (excluding the options). That's 184 times its current price.

In that sense, aex is 14.8 times cheaper than ags.

About two thirds of the aex inground value derives from gold. Gold is more valuable. A 20 dollar move up overnight adds 50 million dollars. The aex deposits are probably 140 metres shallower than ags.

But ags is now better defined. So you should own ags.

In comparison, pdn's inground value is 1.7 times its current share price. In other words, it's capitalised about half of its inground value. There's a good reference point for those believers.

Remember aex may or may not become a mine at this stage.