Its actually crazy to see that most of the money raised just goes to management and directors:
They raised 6.3 million at 1.2 cents.
Where does most of this money go?
Says a lot really.
You can copy and paste the same story over 100s of ASX companies at this end of the market, most of the money raised has gone to management, not to drilling or plants.
Some will say we have made great progress, but really doesnt matter how many likes hotcopper posts get on how well the company is doing, market talks truth.
Amazing how many companies can copy and paste the same story , management really hardly achieving a thing, paying themselves multiple $100s of thousands a year, for years and years, when there are too many shares on issue , they consolidate, name change, and raise again, and do the whole story again. Would be nice to have a gig like that, $200k - $500k a year plus boozy business trips at nice hotels, for life, sign me up!
ADN Price at posting:
1.0¢ Sentiment: Hold Disclosure: Not Held
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