Talk about dilution of investment?
When I first bought into AEV (THEN MINEMAKERS) I think they had approximately 140 million fully paid shares on issue.
Todays 3B release shows that there are now 521,140,720 fully paid shares issued.
What has happened during that period to enhance the company's shareholders wealth?
Well we still own the leases for Wonarah but unfortunately that is tied into JDC Phosphate's Dry Kiln process that was going to be "Commercially Viable" 3-4 years ago and in my opinion will never run at a commercially viable rate!
We have the African phosphate project about to commence shipping (I hope) but considering the current low price for that product what does that mean for us in respect to profitability? I can't find a profit level announcement in the company's releases to date? and we are still awaiting any further news on the sale of the balance of the annual production volume?
So in summary we have just about stuff all to show for our loyalty to date except a huge increase in our shares on issue, so with that in mind perhaps Cliff could kindly give us long suffering shareholders some idea what sort of PROFIT LEVEL we can expect from the African Phosphate project to put our minds at rest?
AEV Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
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