Welcome aboard mate, glad you've gotten in early with the rest of us and at the start of this great journey. I believe in 6 months’ time it may surprise us all where the SP is at. We have a great friendly group here.
As Alan our CEO says, ‘’We are Methodically going through the process to identify elevated copper & nickel above a mag/low”. The exact same way as our next-door neighbours, Kabanga Nickel was discovered. (World’s largest un-developed Nickel deposit). To think our neighbours are now spending $664 Million USD on developing the 58MT @2.62% Ni ground. Whilst they do all the heavy lifting and implementing local infrastructure, we will be proving up our resources.
I’m confident with the team we have not only our management with 30 years in country experience but the add on’s in the likes of renowned nickel specialists Dave Dodd, Gavin Selfe & Steven Burke. Steve was the geo for Kibaran he also spent years and years in collating the BHP/UNDP data (saving us years & millions of $’s) and is extremely excited to be on the team and back to his old stomping ground. I wonder if he had a say in the tenements to acquire? Like I’ve mentioned before I’m confident he knows where “X” is. It’s Interesting to see these high-profile names along with our management on a minnow exploration company.
The news flow should be quite consistent in the near term. Results of geological / geochemical mapping surveys should flow through fortnightly. The team has several drilling targets on our 1145m2, excluding the pending Ruiza tenement application. The plan has been to focus on just (1) tenement for drilling whilst our Geos continue to do AMT and ground EM on the other tenements and prep for more drill targets.
Another positive is that the market will try to lift the SP to the 10 day Vwap @ 0.12c adding an additional $1M to the kitty. That’s a lot $’s to continue on with our exploration without doing another raise anytime soon.
Near-term Pending news flow;
•Grant Pierce Buys more shares on market . He bought some more last week which instils confidence. Rumour has it Grant was the biggest tight arse for Kibaran/EGR. ADD is his 'only' ASX play and he’s currently being payed in shares as are the rest of our directors so he's having to chip into his savings. Will be interesting to see the latest top 20 to see if Raar Capital have increased holdings as Alan Ritchie is the CEO of Raar.
•Ground NSAMT & EM group to deployed.
•Continued results of the ongoing geological / geochemical mapping surveys.
•Appointment of community Liaison Officer.
•Results of targeted area EM surveys.
•Commencement of AMT survey
•Drilling commencement (Alan has said end of June. With what we have achieved to date it wouldn't surprise me if drilling started sooner than we think)
•Ruiza tenement application approved. (could drop at anytime)
•Continued ground and EM surveys on our other tenements.
•1st pass drill results. (Kabanga Main #2)
Nothing really new below that I haven’t mentioned previously just a recap of where we are.
•Market cap only 20M
•Less than 290 Million SOI (hence the movement of the SP, but once we see the drill results will be hard to get in.)
•No debt, 1.8M in the kitty
•Drilling spinning by the end of June
•Acquired, 1145m2, excluding the pending Ruiza application.
•Acquired BHP's data, saving us millions & years of time.
•Have a quality management team in place including experienced add on’s, Nickel specialists Dave Dodd, Gavin Selfe & Steven Burke Steven Burke.
•Exercisable options on the 10 day Vwap 0.12c adding an additional $1M.
•A team with 30 years in country experience.
•Management being paid in shares. (anyone heard of any other company’s doing this to save on capital costs?)
•Management buying on Market.
•Management incentives @ 10c SP
•Ausbil a Billion $ fund participated at the last raise @4C
•RAAR capital top 20, Alan Ritchie our CEO is the CEO of Raar.
•Peter Proksa Top 20.
Apart from sovereign risk which is very unlikely now that president Samia is elected and whom is welcoming foreign investment can anyone else see any negatives? I’m finding it hard to see how ADD won’t be the market darling of 2021 with class 1 Nickel becoming an in-demand commodity.
Looking forward to the next few months, have a great weekend everyone and welcome again SugeKnight.
ADD Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
(20min delay)