:: AEX ::, page-10

re: AEX: the real questions... Bomber/Raining
What really is the status of the drilling programme? All that we know is that in the newsletter, Ed outlined what will be done in the next 6 months. This included further drilling to confirm the 500 MT and also the search for Sulphides. Has anyone got an idea as to when this will commence? If there is only on rig out there, a drilling programme would take a long time to complete wouldn’t it!!!
Unless, like you say Raining, Ed and the boys already know what they need to be able to negotiate a sale. If this is the case something alarms me. If they negotiate a sale, the terms will obviously be made known to the market. To ‘unlock the full potential of Wingellina’, AEX will have to release results of drilling that will confirm the grades/amounts of nickel, plus the presence of any sulphides and PGE’s that will be a part of the value realised in a sale. We have heard nothing…
So going on this theory, if negotiations are taking place as we speak, then Ed does know the value of Wingellina. The market has not been told of this yet, so drilling results leading up to a JV/takeover announcement is as good a certain. The only question remains is when….
BUT, why indicate in the newsletter that $2 million to be spent on confirming the 500 MT, and 500K looking for sulphides? Unless they don’t know all that they need to about Wingellina!!!! It is all a bit confusing really with mixed signals: do they have a full understanding or don’t they?
The announcements indicate they don’t know everything (further drilling required, giving till december to finish), but their actions (selling off fox quickly, delaying the pre-feas study) indicate they could be getting ready for a sale of Wingellina. But throw in the fact that no drill results have been released for a while, the lull since the discovery of the granite gneiss, and it really makes no sense what is happening and what is going to happen next!!
I guess the fact that things have been pushed back till the december quarter is the reason for the ambiguity. Is it for legitimate further drilling because something has changed or they need to know more. OR, is the delay purely a smokescreen so they can finalise a sale and filter all the relevant news to the market?????
Opinions on this is very welcome. I would like to hear what people think of this.
LIVAS1
PS- Bomber, I agree that the first statement from the newsletter which states the everything is ‘on time and on budget’ is not the most confidence boosting way of commencing an announcement!!