There are a lot of baseless assumptions posted recently that I...

There are a lot of baseless assumptions posted recently that I find very disappointing. There are no facts behind the postings.
The company has always had a plan to be a premier exploration company and has recently gained good prospective tenements that need to be explored properly in the future to define their value. Some of the tenements are way up in the bush but it is not impossible to extract minerals if there is value and some of the bauxite leases are very close to existing proposals. Many big mines started in a remote places.
It is impossible to take up a lease, immediately drill and explore and define its real value in a month! The paper assessment was merely a justification for the Delminco share deal and I am happy with that. It would be illegal for the company to make claims on the extent of mineralisation by observations gained by a walk around and a fly over. They need to drill. A lot of the country has not been seriously explored with modern technology and a lot has not been touched.
Remember no money has changed hands and payment in monetary terms will only come if the share price increases. These leases now have to be explored (and for every valuable mineral) to realise the value.

There is no evidence of the directors "mining" the shareholders for money and in fact the money currently in the balance sheet has been contributed by the directors as payment for options and very soon more options have to be taken up by directors and more money fed into the system. The employment terms of the new managing director are, I assume, normal within the industry. He is well paid and I hope he stays because that means that he anticipates he will be able to capitalise on his options as he increases the share price. The company is well capitalised for what it is, is not wasting money, has never wasted money and is not about to go broke with anticipated spending on exploration over the next year or so.

Alan Blood's private company AEC, along with himself, is a major shareholder and if a rights issue has to come later then he will have to contribute about half the money.
The uranium has drawn a blank so far but it did look very good originally and all is not over yet. I assume that AEC is well managed and well capitalised.

The Chinese interest was real and is probably still ongoing.

What is also real is the paranoia in the world and in the markets generally along with contraction of the money flows. This (paranoia) is also reflected in the postings that I am currently criticising.
Story is that patience is needed because there are few buyers out there and myriads of bargains in the market.

I am hanging on, but I do need to sell a million at 4 cents so I can pay a tax bill, but if not then I have to cover it other ways.