Hi @CJTJ, I think your suggestion for Management to find other projects is pretty reasonable. Truck loads of cash (that ADG presently don't have) still needs to be spent on drilling before any commitments are made to upgrade the plant & develop the mine.
The DDD marketing presentation from early 2020 included some interesting points about the previous mine owner (Macquarie Gold Limited) in relation to funding. What's also interesting about Macquarie Gold Limited is the timeline to gold production. MGL bought the mine in 2011 & commenced production in 2017 (i.e. 6 years from mine acquisition to gold production).
The Cautionary Statement on pg.1 of the Updated Scoping Study is good to keep in mind when considering any gold production / cash flow assumptions in recent ADG marketing / investor presentations...
ADG in 2023, page-2
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