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From ADX 2011 Financial Report.Some general information...

  1. IFINO
    784 Posts.
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    08/10/11
    10:53
    Post #: 9115359
    From ADX 2011 Financial Report.
    Some general information regarding finances.
    Carried cash from 30/6/11 is $783,000.
    Bond return on 23/9/11 from Tunisian Authorities for commencement of drill of Sidi Daher. $1,000,000.
    Received from CAV on 26/9/11. $765,000.
    By my figuring ADX have at least $2,000,000 at this time.
    ie $2,540,000. less operating cost for quarter to end of September.
    On top of that they were free carried for the SD well.
    Conclusion :- No need for a cash raising to carry out the well test on Sidi Daher.(ADX commitment 40%)
    Cheers.
    ADX Price at posting: 7.5¢ Sentiment: LT Buy Disclosure: Held
    Likes Created with Sketch. 18  Upvote
    lightbulb Created with Sketch.  Great analysis
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