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0.5¢ alderan resources limited

Ann: Review Identifies Two Areas for Drill Focus near Frisco, page-6

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buffalo_US

270 Posts.

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13/03/19

21:03

Post #: 37753053
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Originally posted by Lotirish: ↑

Two things you may want to consider. Read announcement "Alderan prepared for a second drill rig at Accrington" (released 13th July 2018). in that announcement they also state that their geologists have mapped outcropping copper and have taken outcropping field samples, to assist in drill hole targets. No assay announcement is released until 24th sept where they release BOTH drill hole and outcrop assays in the same asx announcement "Assays confirm significant copper-zinc at Accrington".

So either they sat on these results and didn't release them to the market or they didn't get the results until after they'd already chosen drill hole locations making these outcrop samples redundant and a waste of money for the company.

Last point to consider, this announcement makes no mention of where they will get the money to drill the targets. They have less than 1mil remaining in the bank (I reckon about $500k). Thats not enough to pay staff costs, get roadworks and pay for a drill rig. Again they either need someone to independently finance them or a CR is around the corner. which means the share price will get diluted.

If you buy in at this price you're begging to lose money.

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thanks heaps

AL8 Price at posting: 5.7¢ Sentiment: None Disclosure: Not Held
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