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
- Ann: Adelong raises $500,000 to progress Gold & Lithium projects
Yeah, $100k tends to evaporate quickly when they're not thinking...
-
-
- 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
(20min delay)
|
|||||
Last
0.5¢ |
Change
0.001(11.1%) |
Mkt cap ! $5.589M |
Open | High | Low | Value | Volume |
0.5¢ | 0.5¢ | 0.5¢ | $15.5K | 3.1M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
25 | 15975367 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 2718547 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
25 | 15975367 | 0.004 |
29 | 27331370 | 0.003 |
10 | 60200000 | 0.002 |
11 | 90555000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 2718547 | 5 |
0.006 | 9061000 | 8 |
0.007 | 6686635 | 8 |
0.008 | 11042945 | 9 |
0.009 | 7255712 | 8 |
Last trade - 10.18am 09/09/2024 (20 minute delay) ? |
Featured News
ADG (ASX) Chart |