On 07-05-2002, the Chairman stated " that there is geological evidence for the presence of nickel sulphides " and that " discusions with global mining companies have commenced ".
With ANL's market cap at approx. $180 mil. and AEX's at approx. $20 mil., there is definite potential for a major valuation re-rating.
For this reason, can't fathom UBS Warburg with a sell order of 500k shares at $0.11. Do they know something Chairman Ed doesn't?
Or, as with ASC, often the disgruntled or the ignorant jump ship before the good news rocks the market. From its current level, a major sulphide discovery may send AEX on a Minotaur-like share price rise.
The supply/demand dynamics for the nickel price are actually quite bullish over the next 2-3 year time horizon, as well, with the Russians forced to lock-up a major portion of their forward production as part of a recent loan arrangement.
Stay tuned to the AEX story.
AEX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
