Saxien Run out cash end June ? No - they will have $1.6 mill in...

Saxien
Run out cash end June ? No - they will have $1.6 mill in calls to make and the $250,000 they called today.They could go another 2-3 quarters on that easy (they ave $200,000 on admin and $450,000 on exploration per quarter).
AEX just paid the last $550,000 for Wingellina on 30 April so now its just admin/exploration costs.

Drilling leaks .Not always.MNR traded 77,000 at 17 cents on 13/11/01 - the next day the ann was made - 4.5 mill traded to $1.75.Some tight lips there.AEX and Uncle Ed may have the same tight lips.

Wingellina just another laterite.No.The Wingellina oxide doesnt require the high capital HPAL gear like ANL etc(1/3 of the capital setup cost of ANL etc).
AEX have proven the TTS leaching technology(Jervois are going ahead with 0.8% Ni using TTS) is very suitable for Wingellina ore.20% lower operating costs than HPAL.No pressure and No heat needed.Bankers love that stuff.
ANL has a resource of 336 mill tonnes at 1% Ni.It now looks like it may be economic.ANL went to $7 on 460 mill shares (similar to AEX if you count the AEXO).
Wingellina has 1.5%Ni (Jervois will be economic with just 0.8%Ni using TTS) with a resource of 500 mill tonnes (not proven yet but just a formality if you look at INCOs estimates of 200 mill tonnes at only 35 metres)
I believe once the project is sized up share price will be at least 50 cents based on the oxide alone.
It wont matter where Wingellina is - that sort of World class deposit will be mined.Inco were going to build a town for 3500 people.Its only Native rights issues and a lack of technology at the time that stopped them.
Research INCOs GORO mine.They rave about it.ITs 1.6% Ni and only 230 mill tonnes.The main dif between GORO and ANL is GORO heats the ore to higher temps to get faster leaching.What a joke compared to Wingellina.You see why AEX recently said THEY chose to commence negotiations with global COMPANIES.
I havent factored in the Sulphide/PGE/Scandium potential.Huge.
Games are being played by Uncle ED.He gets 32 mill options at exercise prices of 20 cents up.He obviously has expectations the price will be 40 cents +.

Wrong time to sell in my opinion.

Nugget - what do you think ?

Stocko
You dismissed NGH 12 mth ago as another PUL.Look at the results now.ATC doubled recently and things havent begun yet.Look at the quality of their contracts.You give a one line dismissal of AEX.I reckon AEX will be one of the top stocks of 2002.Lets see.