To those questioning the lack of BOA's for what we're told is a highly desirable and rare material I'll share with you a story from just last year.
Early on in the COVID outbreak a client of mine approached me wanting help to launch a new product - a household disinfectant thoroughly tested to Australian standards and proven to kill the COVID-19 virus. Liquid gold right? This product was the first of its kind to be TGA approved - entirely alcohol free, Australian made, organic, safe to use on virtually anything and was 1/3rd the price of its corrosive / hazardous competitors... We were there months before anyone else and the market seemed desperate for such a solution.
I worked tirelessly on cashflow / supply chain / marketing to get to a point we could seriously take on orders from the big boys, surely to god Woolworths and Coles would be fighting each other to sign an order form right? Melbourne is in the middle of lockdowns, every state is hard shouldering the other, businesses are closing and life as we knew it is over - this stuff is liquid gold and is going to make everyone some serious margin.... WRONG!
Nobody wanted a bar of it. We were too new, too risky to place orders worth millions of dollars with for the risk of something going wrong, we only had one product - how possibly could we get market presence on the shelves with only one product line? For so many reasons we simply weren't worth the risk.
Andromeda is in the same battle right now, we have a company in its infancy. No DFS, no quantified pen on paper confirmed production estimates, no mining approval, product testing trials that can take years and the list grows - Im very bullish on ADN, I fully believe we have a giant in the making but we need patience. If you were a buyer would you sign an order with ADN? Wheres the rush for them? Wouldn't you wait just a few more months to make sure the boxes get ticked before you commit your own business to millions of dollars worth of material that may or may not appear?
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0.8¢ |
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Mkt cap ! $27.14M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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48 | 20335090 | 0.8¢ |
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Price($) | Vol. | No. |
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0.9¢ | 23148180 | 23 |
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No. | Vol. | Price($) |
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47 | 19735090 | 0.008 |
35 | 19469158 | 0.007 |
16 | 8436332 | 0.006 |
10 | 8025000 | 0.005 |
1 | 4500000 | 0.004 |
Price($) | Vol. | No. |
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0.009 | 23148180 | 23 |
0.010 | 24454328 | 15 |
0.011 | 16213479 | 8 |
0.012 | 23591434 | 8 |
0.013 | 2351111 | 6 |
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