AEE 10.0% 1.1¢ aura energy limited

Ann: Haggan Vanadium Project Update, page-5

  1. 2,034 Posts.
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    Wow. So on 31/7/18, AEE was still trumpeting Haggan IPO in late 2018. Further, the company said the draft SS would be completed by August 2018.
    See:
    https://www.asx.com.au/asxpdf/20180731/pdf/43wyr56hxwym7q.pdf

    Now the company is saying:
    "Publication of projected financial information in the Häggån Scoping Study requires the upgrade of the current Häggån Inferred Resource estimate to the Measured & Indicated Category. Site drilling has been slower than anticipated and whilst some drilling will be completed this year additional drilling will be required to achieve this Resource classification upgrade. This drilling will be completed early in the new year."

    So less than 3 months ago, the company didn't know about the requirements for the SS! Incredible incompetence, imo. So there goes the late 2018 IPO. I note a new date wasn't given.

    An unforeseen drilling campaign will mean, imo, a CR this year. The next quarterly will confirm as much if AEE continues to over-spend on estimates.

    And for those who wish to continue the line I am a troll/liar/dishonest, here is what I posted recently:
    16/10/18: "Haggan has an inferred resource; nothing indicated or measured."
    20/10/18: "Imo, Haggan will need longer than 2 years to get to funding stage. For a start, it only has an inferred resource. There will need to be a costly and lengthy drill campaign for starters. "
 
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