Yeah, $100k tends to evaporate quickly when they're not thinking about drilling, but when they are just thinking about drilling the cash evaporates even faster.
ADG's cash position is only ever a thin veneer of liquidity at the bottom of the treasury chest & they're good at burning cash without doing much on site. Their cap raise back in late Jun'23 was presented with the headline "Adelong raises $500,000 to complete 2023 Drilling Program" but they never managed to do any drilling before having to scramble for another $500,000 CR injection.
After the cash trickles-in from the recent CR, it'll be interesting to see whether or not they manage to get a modest amount of drilling completed at Adelong during the Mar'24 quarter. In the context of the going-concern issues mentioned in the FY23 annual reports for ADG / Cosmo Gold and the commentary from the accounts auditor, things are looking increasingly precarious for ADG.
- Forums
- ASX - By Stock
- ADG
- Ann: Adelong raises $500,000 to progress Gold & Lithium projects
Ann: Adelong raises $500,000 to progress Gold & Lithium projects, page-17
-
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADG (ASX) to my watchlist
|
|||||
Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.471M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.4¢ | $634 | 158.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 7098697 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 6826512 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 7098697 | 0.004 |
39 | 32196717 | 0.003 |
14 | 44440000 | 0.002 |
13 | 142355000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 6826512 | 11 |
0.006 | 9091000 | 6 |
0.007 | 7853301 | 8 |
0.008 | 9343820 | 5 |
0.009 | 2130156 | 7 |
Last trade - 11.05am 26/08/2024 (20 minute delay) ? |
Featured News
ADG (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online