For those who may of forgotten why Denny Dalton project is so...

For those who may of forgotten why Denny Dalton project is so good.

As we know DD has an inferred JORC compliant resource worth approx $3.5 billion AUD. Much, much more than most U juniors can claim.

In brief from the last activities report -

What we are waiting on is infill drilling to start. This wont start until all previous data has been compiled into a relational database and a 3D geological ore body model developed to a preliminary resource calculation stage. This needs to be done prior to planning of the infill and ore body definition drilling and/or trenching. CCIC have been contracted to do this. I’m sure once CCIC have finished this ore body model will be made known to the ASX including a new inferred resource calculation. With lower cut off grades due to higher metal prices I’m sure we will see a larger resource definition.

AEX have a drill rig, which has been secured with work to commence during the current quarter but of course needs CCIC to complete their resource definition work.

This project is at a medium to advanced stage – much better than virgin exploration.

During the late 1980’s and early 1990’s drilling by Gold Fields of South Africa and the Anglo America Corporation found that of all the ore body reefs investigated, the Denny Dalton Mine, 38km’s northwest of Melmoth showed the most promise.

It was in 2002 Savanna Diamond who using a contracted geologist firm MCG concluded that DD project was medium to advanced stage exploration project hosting significant Au and U mineralisation. MCG were confident that historical data, coupled to additional infill and ore body definition drilling would allow for the conversion of the Inferred Resources to the Indicated and Measured categories.

So we have an inferred deposit of great wealth. If managed properly this project will be worth a great a great deal more than were we are now. Yes we would like a better-qualified mining project management but I’m sure we will be informed about that soon. CCIC in the meantime can quite comfortably manage that until an appointment is made.

One last thing I think location is everything, right now in Australia it still may take 2 to 5 years before some States will agree to U mining. It’s not cut and dry – politics never is. In Africa at least U mining is a allowed with minor constraints compared to Australian Policy.

For me I believe AEX in time is a winner and those willing to ride the next few months will see great rewards similar to PDN. Big projects take time and we have to be patient. In saying that I do believe we are due for an update on project status hopefully this week coming.

The share price appreciation is testament to the above.