Well its quite simple really, $3m to prove up .4mt of Li last quarter, extrordinary expenditure for a small coy, yes i hear everyone saying "but thats only covering 5% of the tenement"
I say, if you are going to spend that kind of coin to get that result, how much is it going to cost to actually achieve economical quantity to start a mine? You do the math, but its hefty and with heavy dilution, a given. ADV have a reputation for high grade Li, yet the last assay results had grades at border line levels, not a great sign.
ADV are in survival mode, knowing that if they have another poor quarter with little to show for it, it could be the death knell for them, hence the P&D thats playing out now. Yes they have Pickles but thats going to require a fair bit of coin too, so all in all, better opportunities elsewhere. Profit now, move on!
AIMHO GLTAH
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