Around this time last year ADG directors were taking up their...

Around this time last year ADG directors were taking up their entitlements in the Dec'22 CR. Entitlements CR was heavily undersubscribed with only 11% shareholder participation & 89% subscription shortfall. Shortfall was placed at a premium & the shortfall participants did a fantastic job pumping the SP from $0.007 to $0.025 when Gibraltar results were announced on the 17/01/23. The SP pump abruptly ended the next day & the SP made it's way back to $0.005 / $0.006 during the 11 months that followed.

Whether or not the directors kicking in their own money turns out to be a good sign (i.e. future drastic SP improvement associated with exploration success) remains to be seen. Market is sceptical about ADG's ability to deliver spectacular exploration results / $15M - $16M project funding to develop the mine at Adelong / navigate persistent lean liquidity circumstances without becoming insolvent.