Acclaim
Well I'm not one for conspiracy theories. I think AEX have given somewhat confusing signals about progress and what their forward exploration and testing program is.
As I see it, the early 2002 drill program was for 27 holes. 15 were received in time for the 10 April release, with the remainder for the quarterly released on 30 April. 6 (5 Inco zone, 1 Beadell) of these 27 were deemed significant and reported in the quarterly.
The reference in the May open briefing to drilling and leaching testwork to be completed over two/three months seems confusing in its reference to drilling. A couple of posters have stated (during June I think) that AEX has said no current drilling is being done. Assuming this is correct, presumably the drilling reference in the open briefing was an error, or else AEX decided not to go ahead with drilling shortly afterwards - perhaps pending leaching testwork, further geologocal modeling or for any number of other reasons.
As for the value of the deposit, I place little importance in what other companies have paid over the last few years for large laterite deposits. Sure, there are number of majors that would probably be prepared to JV the project right now, but I doubt the terms would be good ones for AEX. The long term intrinsic value of a deposit is often much different from what the mkt is prepared to pay on any given day, or in six/twelve month period for that matter.
angus
I have interests in acclaim
AEX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
