Grades of AU, page-152

Yes, wannabefree, I also liked this development. I think that the market has ignored the real prospects that AON hold. I am particularly encouraged by this statement:

"Apollo’s Plato prospect is recognised as one of the few locations where drilling has intersected magmatic nickel sulphides including Sirius’ Nova and Crux projects"

I was fortunate enough to be a holder of Sirius during those heady days before and after the Nova discovery and recognise the similarities between SIR and AON. SIR consolidated their holdings ( and in fact changed the name of the company) prior to the discovery, SIR was being sold down by the impatient (as low as 5c, much to my delight!) just prior to the discovery and, SIR management was being criticised mercilessly here on HC just prior to the discovery. The sell off of AON shares is mirrored by the sell off of SIR at a similar time in the exploration process, with small parcels changing hands and people getting frustrated at the seeming lack of progress. If anything, AON is even further down the track to a major discovery than SIR was at that stage.

Having said that, Fraser range is a purely speculative play for AON. There have been plenty of recent failures there. However, AON is no one trick pony; it still has outstanding assays to look forward to, plus they have other promising prospects that seem to have been written-off by some posters here. The gold assays will determine whether further drilling is justified or not but with the price of gold looking like it will threaten all time highs (in $AUs) before the end of the year, I find the initial drill results very encouraging.

In this game, at this end of the market, picking winners is tough at the best of times but for a company like AON to be valued below $2.5 million (on MC) is just too good to be true. I can imagine many people looking back at 3c and thinking "if only....".

This is all my own opinion and NOT intended as investment advice.