ADG 11.1% 0.4¢ adelong gold limited

Ann: 2021 Quarterly Activities Report & Appendix 5B, page-10

  1. 4,522 Posts.
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    I’ve already posted that here a few times just go over my old posts, I like PM I think he’s a good guy. The lead broker has invested his own cash but should not interfere with the project because it’s outside of his expertise, he pressured PM to drill an area in 2020 that was permitted but not that prospective (the lead broker told me that himself, I didn’t get that second hand). But when your the money man you can push it in a direction you want which was early drilling and he had big early expectations but it didn’t work out and now it’s a grind which is nothing uncommon for a project like this. The challenge now is raising money to continue drilling, studies and permitting then the big capex raise. Loans for these types of projects are expensive and sometimes more dilutive than a CR. SOI could blow out and management is well aware of this so slowing down on spending might have been a very conscious decision.
 
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