How many other holders here have had a good look into Interbase Metals and Challenger mines who previously held Adelong?
Lots of info on their website and I’d recommend anyone who is invested here or is thinking of investing to have a good sift through the info.
I’m no expert so I’d really appreciate input from those that are....
It states here in the Environmental report that Adelong is considered a small mine and therefore are not allowed to use dangerous chemicals. This would include cyanide which I believe is often used in breaking down the rocks to extract minerals like gold. They can’t even store more than 600 litres of diesel onsite:
https://www.interbasemetals.com/sites/default/files/images/challenger/AEMR CMPL 2018 20190220.pdfSo we have a previously operating production plant with a crusher and a couple of ball mills, but so far, all the BOD have talked about is further exploration.....more costs and massive dilution based on having to raise any future funds at current or similar pricing.
From Interbase metals website, they also claim that the area is under explored so I do agree with DDD that there is immense potential to discover more gold and expand the resource. But this is going to come at a huge cost to the share register.
https://www.interbasemetals.com/Projects/Projects in Australia/Challenger Mines Pty Ltd3 billion shares on the register today....it can easily double from here just to cover their staged buy in payments coming up, let alone the added cost of drilling/exploring.
Does anyone else have any research info that they are willing to share that might help create a clearer picture of what we can expect over the next 12 months based on info from the previous owners?
- What is everyone’s thoughts on the costs/tests/studies involved to get production up and running again?
- Is there enough known product to warrant gathering a team to crank up the processing plant and get income?
- Are there more licences or permits that DDD requires to re start the plant?
$0.002c definitely seems like a good deal but if the price stays the same while the MC continues to rise on dilution without a clear path and timeline back to production then where is the upside over the next 12 months?
It is clear that a consolidation will make sense eventually but I can’t see that occurring anytime soon.
Genuinely looking for other holders thoughts, research and ideas.
(20min delay)