Ann: Binding Agreement to Settle Cosmo Gold Loan, page-7

Hi @playwithfire,

I had a look at the W.A Tenement cache website & it appears ADG lodged expenditure of $136,992 on 06/08/24 for Cosmo Tenement E38/2274.

A couple of the other Cosmo tenements (i.e. E38/2851 & E38/2627) had applications for expenditure exemptions lodged on 10/05/24 ($111,000) & 04/07/24 ($70,000).

No doubt it'll take a while (longer than expected) for ADG to offload / transfer their Cosmo interests to Sarama Resources & as highlighted in your post, cash will continue evaporating (or haemorrhaging) from the ADG coffers to facilitate the Cosmo offloading process.

I suspect ADG won't be in a cash position to do any drilling at Adelong until sometime after their next CR. Perhaps a bit of drilling at some stage in CY2025.