ADN andromeda metals limited

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prolifix

4,013 Posts.

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29/06/19

09:09

Post #: 39298726
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Originally posted by rattle ↑

Shareholder letter :
January 2019

" Extensive geological and geotechnical data was collected during the bulk sampling exercise which is now being used for Scoping Study mine design work. A highly experienced mining engineer has been engaged to work on all aspects of the mine design.
The various wet and dry processing studies will also yield vital information for the scoping study along with marketing feedback leading to potential binding supply agreements. "

" The Poochera scoping study work is scheduled for completion in the first half of the year, when the aim is to then move rapidly to Prefeasibility stage by virtue of the very simple business model to produce and supply raw ore as a first stage before moving to semi and fully processed halloysite-kaolin product.
Discussions are at an advanced stage with a number of potential raw ore customers in China and Japan. "

:ann. May 28
" The company is to engage a process engineer consulting group to review dry-processing plant designs, develop process design flow sheets, mass balance modelling, plant layouts and capital and operating costings for inclusion in the scoping study. "

This extra study has now taken the finalization of the scoping study to late August it appears.

I assume while all this is going on so to are the Enviro/Hydrology studies.
Everything needs to be completed for the MLA and delay of any part might mean delay in final granting of the mining lease.

Why I bought this point up about the SS delay is because I originally invested in ADN on the grounds of the scoping study being released in 1st half of year with initially the DSO mining being the main aim, as outlined above. The company has sidetracked.
I am a pensioner and have put all of my savings into ADN with the hope that by next April [when I'll need money, as I've said before] I'll get a good return. Any delay could lessen that possibility.
I'm sure the share-price will be of good value come next April and I'll be happy with it anyway. My initial comment has somehow been blown out of all proportion.

If my above logic doesn't make any sense to you, please refer to your iphone for an explanation.

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"Everything needs to be completed for the MLA and delay of any part might mean delay in final granting of the mining lease."

I seem to be getting through to you! So next question to ask yourself, what is going to take longer? Enviro/hydrology studies.... Or the Scoping Study?

ADN Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
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