General comments/chat, page-15790

To those posting here as if ADN will only have the only resource ever. Seriously, it is called exploration. You explore to find something. I would be expecting another commercial halloysite/kaolin deposits to be found in time, but the advantage for ADN is in the first mover status where it can establish itself in the market before others come along (similar to Greenbushes in the lithium space). Heck, ADN was an exploration company before they found a commercial deposit. Greenbushes was the only hard rock mine in Western Australia (i.e. lithium space - how many are emerging now?)

Given demand growth, obviously IMO ADN will be a bigger scale to what the PFS has said (in time) and I would be expecting other commercial deposits to be found as well. It is why people throw $ at exploration companies. Most exploration is unsuccessful as we know, but it is exploration that drives a find, commercialisation, development and growth. It is the risk reward equation this side of the market as why people invest, albeit ADN IMO is no longer an explorer. Things severely have to go wrong for the current 175% pre tax IRR in the PFS to change to a view ADN's project is not a goer.

Be happy with what we have here, but people shouldn't be joyous as to how other companies seeking to be in the same space are travelling. For the record I bought some LRS a while ago - i.e. actually for the lithium deposit - and OAR - this for the Crown prospect - but if they do find something worthwhile in halloysite/kaolin so be it. The market will have opportunities for a number of new entrants.

All IMO IMO