Aspen1900 Said:"If so, then looking at AAM from a pure asset...

Aspen1900 Said:"If so, then looking at AAM from a pure asset valuation model AAM could be cheap. Approx 200m shares at 4c is $10m."


I think this is at the heart of your desire to quantify the value of A1 Minerals..........the fact that perhaps its cheap and "perhaps" holding this stock could be justified in terms of tennement holdings.

Im not a Geo. Im prepared to make the following points.

- I believe much of A1's holdings are highly prospective.Deliniating these resources is however expensive. I think there is much work still to do. Incredibly tennements have been disposed off in a "panic" mode which I believe has been detrimental to shareholders interests.

-You hold shares in A1 Minerals(I presume),as an entity this enterprise is going backwards presently and its mill is located at the wrong orebody. The market has exhausted its patience and additional capital will be very difficult to obtain.

-2g a tonne dirt is fine, only if the mill is 10 times larger than it is. The "Brave little mill only works if theres very high grade to be exploited. The tiny mill has been a grave error of judgement from management.

-Unfortunately A1 Minerals is not an exploration company its a producer going backwards and its got 10 Million dollars worth of backward momentum. Worse it cant walk away. Its got 60 Employees, a mining contractor and other liabilities. Its literally bleeding to death and many other better managed enterprises than this have gone to the wall with much better reserves and resources than they.There was at one stage I estimated over a Billion dollars in the ground based on the now doubtfull and discredited JORC. Its worse than the fact that its questionable theres the issue of credability. Whos now going to believe any of the resource calculation now? This is so damaging and in my view its the result of the incompetance of one man.

Whats going to happen to the tennements? probably a mob like Regis with lots of money,experienced management and large fixed plant are going to exploit whats there. In my view I cant imagine a scenario where A1's shareholders are going to get a cracker for them.