Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-21

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midastouch0707

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01/08/23

23:37

Post #: 69107845
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Thanks Gravity Waves, appreciate the time you put into this, you really know how to dig up the detail. Cheers from Mike Foley

Originally posted by GravityWaves: ↑

Hi @midastouch0707, how's things?

ADG's recently disclosed drilling ambitions for the Sept'23 quarter is that they don't expect to be doing any drilling in the Sep'23 quarter.

Perhaps their strategy is to give the impression (smoke & mirrors) of conserving cash by not drilling in the Sep'23 quarter which might then allow management to use a percentage of the recent CR funds to transfuse cash into Cosmo (for tenement expenditure purposes) so that Cosmo are in a better position to fulfil their minimum expenditure obligations for 2023.

If management are ambitious to do some drilling at Adelong in the Dec'23 quarter, perhaps they'll launch the next CR late Sep'23, then arrange for a drilling rig to mobilise to site soon after that, then 2 -3 weeks of drilling with results announced 4-6 weeks later.

If things go well, the next announcement for new drilling results might be as soon as mid Dec'23 (i.e. approx 4+ months from the end of July).

Following the next announcement of new drilling results, possibly a resource update mid-late Jan'24 and an announcement sometime later that the Company is in a position to "assess the future of the project" & perhaps another change in focus which might see management revert back to their earlier financing ambitions that they mentioned a few years back in the FY2021 annual report (pg.11)...

Extract from the DDD FY2021 Annual Report (pg.11)

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ADG Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
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Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-21

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