disappointment, page-2

My apogies for the math in my previous post .... too eraly in the morning.

Here is a more accurate version after looking again at the Lonsec Broker Report dated Sept 2006.

------------------------------

I am greatly disappointed by the announcement.

Yes, there is no doubt the B4M discovery is outstanding.

The western zone was meant to be the most prospective of the total area they have been drilling.

The broker report suggested this zone could be approx. 88M lbs and this was also hinted at the AGS AGM back in Nov 2006.

The initial estimate for the West Zone was meant to be originally released in Dec 2006. Why the delay? Did they know it was going to be disappointing and went looking for more. The share price recentlt went up to $3.00. Did ths provide a good exit point for some people in the know. Some thing doesn't seem right here to me.

If we use the original broker report estimates, then it implies AGS' share might be something like:

* Estimate of 88M lbs ....... reported 27M lbs ..... AGS share approx 7M lbs at 25%

* Remaing estimate 28M lbs (116M - 88M) ...... still to be confirmed ..... approx. 7M lbs at 25%

==>> Implies an estimated total share (25%) at 14M lbs

The have plenty more propective area to explore but that is going to take some time.

Although I like AGS, I find it really difficult to believe that a stock that has about 7M lbs of U (confirmed) at this point can be valued by the market at 700M.