The way AEE is being run by the BOD is mind boggling IMO. It doesn't instill any confidence in my view. You have Warren Mundine who shouldn't be involved with AEE, a FEED which was continually delayed and delayed then finally released at the end of Feb 24, and timelines for construction/funding/etc pushed out significantly. And that is to name a few The Dec quarterly stated AEE had ~$5.9m at 30/12/23 which is easily enough for 1 quarter of funding/exploration and then some Less than 2 months ago AEE announced an agreement to receive ~$4.3m cash upfront regrading the 30/6/24 options. The total fees paid to the underwriter and sub-underwriter totaled $500k. So in effect ~$3.8m was received Last week a TH for a CR and $16.2m is placed + potentially $2m from a SPP + a shatload of options at $0.30 exp 2026. No mention of lead manager/broker but the SPP documents should mention something. Is it PAC again as they were involved with the option agreement You don't wake up one morning and think we'll raise today. This would have been in the works for sometime by tapping interest first and ringing/emailing around to extend the feelers before slowly working through details etc Why enter the option agreement with PAC and Lind and waste $500k and then conjure up a raising shortly after AEE SP will be suppressed, and if there is an overall correction in markets or spot U comes drops further don't be surprised if AEE is near $0.10 The FEED itself was nothing spectacular, with the CAPEX increase much more than I thought it would be. Everything looks much better when you base your metrics off a higher U price. Compare the FEED details to the Enhanced DFS Study announced in Mar 23 (base U price $65, Upside U price $79) Positives - U focus, Tiris project, Sweden likely to overturn U mining Negatives - BOD, decision making
I definitely won't be contributing to the SPP I want to leave AEE during 2024 with some type of profit for the amount of time I have been invested, but they are making it hard to do so
AEE Price at posting:
17.5¢ Sentiment: None Disclosure: Held
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