:: AEX ::, page-13

I reckon the X factor is Uncle Egs options.

The NHG rip off etc.
The inconsistencies are everywhere eg ;
The $ 2 mill to prove up 500 MT.
When are AEX going to finish this drilling ?
DecQ they say.
Why do they need $2 mill then when they have been spending a total of $400,000 per Q on drilling for oxides AND leaching testwork AND sulphides ?
If drilling for 500 MT finishes Dec Q (4 mth later than previously stated) then going on past drilling costs - the budget should be no more(allowing for a bigger drilling campaign ) than $400,000 per Q or a total of $800,000 - NOT $2 mill.

Eds 1st lot of options are exercisable at 20 c.He doesnt want a hostile T/O like NHG.

Although Wingellina is a large laterite deposit - the atmospheric leaching ability completly seperates it from ANL etc.Operating costs of US$0.80 c and capital costs being 1/3 of HPAL are extremely attractive and the size makes the location no big deal (especially if AEX decide to pipe the slurry out to Kalgoolie or Yabalu - thereby greatly reducing infrastructure costs ).

Dont want to bore you but I reckon Uncle Eg has something up his sleave to drive the price hard (to make his options worthwhile) WHEN necessary.

AEX oose confidence and I believe that confidence comes from more than a very profitable oxide deposit which the market doesnt presently understand.
If BHPB( remember BHPB designed the atmospheric leaching process and would fully understand its advantages over HPAL) were to offer 20c tomorrow based on the oxide alone - AEX shareholders would jump at it.Eds a loser AGAIN.
Ed wouldnt be talking to the majors at all UNLESS he KNEW his options were going to be well and truly in the money.
The newsletter stated a "PART or full sale" of Wingellina. So Ed expects even a "part" sale will put his options in the money.Correct me if Im wrong but I cant presently see it any other way.My opinions only.