"This is a perfect project for a junior and will only get better and bigger as the gold price increases and they keep drilling to increase resources and mine life".
@maxcap200, probably best not to make ANY assumptions / correlations about an increasing POG & project success. An example that comes to mind is WMC (a junior gold producer with big production hopes & dreams who delivered plenty of positive drilling assays, had Ore Reserves of more than (1.4) Million ounces, countless CR's, a project loan of US$42M, a massive increase in the POG, a plant upgrade, active mining...& all of that still didn't prevent them from going into Administration). They just didn't produce enough gold & their production AISC was persistently way too high (even though the POG was reaching record high's for a couple of years).
Back to ADG, their survival depends on funding (i.e. future CR's & a substantial project loan), spectacular drilling assays to entice a bit of Market enthusiasm, how much gold they produce (if they ever get to that stage) as well as the associated operational / production costs. I doubt there will ever be a time when funding considerations can be put aside.
I'm all for ADG getting on with lots of drilling throughout 2023. The BOM are forecasting a much drier than average Autumn / Winter season for most of the Australia East region & there's a reasonably good chance ADG will have favourable weather & plenty of opportunities to lift their game & drill expeditiously (i.e. multiple drilling rigs). No doubt cash constraints will determine how much drilling they achieve during this years Autumn / Winter period.
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