ADN 11.1% 1.6¢ andromeda metals limited

Ann: Annual Report to shareholders, page-27

  1. 1,620 Posts.
    lightbulb Created with Sketch. 337
    After all, it is a simple quarry.

    Its not a super pit like they have in Kalgoorlie.

    Its a quarry, just like the ones we have in nearly every city - such as Boral blue metal pits etc.

    Half a million dollars a year or being paid for 3 days a week work, is not commiserate to a friggin clay quarry.

    When I purchased my shares when they were 0.005 I based my dd and research on DSO first, sales of this DSO to then fund ongoing projects. Now the goal posts have been moved in only recent times and the original due dilgence does not add up.

    Its a quarry, have I said that. And, not a very deep one at that. Anyone with basic quarry experience such as a dam builder could design and manage a quarry. The product then sells itself. Its not rocket science and it does not command a drain of millions of dollars a year from the cash stocks which are being depleted for no good reason.

    imo
 
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