In 2018, ASEAN (CB) published that they believed that the U price will be between US$65 & US$90 by the end of 2020, and began buying AEE back then at well above 2c and up to even, 3c. I personally believe that this group has forgotten that Tiris is a small, low-grade M & I deposit that spans nearly 300kms, and lies within the Islamic Republic in West Africa in the Sahara, a place that all Australians are advised not to travel within.
IMO, I believe little doubt exists that ASEAN will takeover AEE (by proxy) - was it 15% p/a on the hypothetical convertible notes plus a whimsical look-in at the end product?
The DFS proves that this little patch in the world may not stack up. One only needs to analyse the low IRR at an assumed U price level. Perhaps this is part of the reasoning why it took so long to be released.
Apart from entertainment purposes, the current corporate hell hole means very little to me, but everyone may need to finally, one day, understand the value of the assets of this company.
I see little - the gold could be worth a decent drill - but that would take a long time ... and it's a long shot - 100/1.
Either way, nasty and perhaps, expensive dilution ahead.
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