Australia's largest stock trading and investment forum Australia's #1 stock forum

ADN

0.00%

1.7¢ andromeda metals limited

Haha! ive been trying to stay out of the trolling saga, but this...

First 107 Last

Share
Profile

Follow
ozemania

921 Posts.

287

13/04/21

17:20

Post #: 52437642
Share

Originally posted by stultissimus: ↑

T=========================From half yearly report =========================

this cash flow forecast indicates that the Group’s current cash resources will not be sufficient
to fund the Group’s operations, inclusive of currently uncommitted expenditure noted in the
previous paragraph, without additional funding being raised from December 2021.
The Group will be required to secure additional funding of at least $4.1 million from December
2021 for the Group to proceed with the planned commencement of mining development
activities for the Great White Kaolin Project through to 31 March 2022, assuming that the Joint
Venture approves these activities and related expenditures in line with the timetable budgeted
by the Group to achieve its strategic plan.
The Directors are satisfied that they will achieve the matters set out above and therefore the
going concern basis of preparation is appropriate. However, should the required funding not
be raised, the Group would be required to delay the commencement of mining development at
the Great White Kaolin Project.
Should the Group be unable to successfully secure the above additional funding, or delay its
currently envisaged commencement of mining development at the Great White Kaolin Project,
there is a material uncertainty that may cast significant doubt as to whether the Group will
continue as a going concern and, therefore, whether it will realise its assets and extinguish its
liabilities in the normal course of business.
The interim financial statements do not include any adjustments relating to the recoverability
and classification of recorded asset amounts and the amount and classification of liabilities
that might be necessary should the Group not continue as a going concern.

=================================================================

Is there a new issue ( institutional placement) coming soon ; I suspect todays announcement is feathering the nest. Institutions have not leapt at this today when they may well l be able to buy in at a discount to the share price.. .

Fair Value Estimate 0.256
New issue price <0.20?

.I would like to buy in but do not want to be diluted when it is apparent they need capex and working capital to realise the perceived potential of the asset. With capital behind them and a few more LOI converted this could go well and achieve the directors goal of returns to shareholders. This will have a big upside if the CO₂ capture is commercially viable and viable solution is found for the reclamation/ recycling of the nano material..
In the meantime I will monitor both the share price / volume and company releases before becoming a shareholder.

Expand

Haha! ive been trying to stay out of the trolling saga, but this one definitely deserves a comedy award.

A +$600m company needing a mere $4.1m by early next year for mine development

Imagine the 0.65% dilution!

Ok, that's me out again. Thanks for the chuckle

ADN Price at posting: 28.0¢ Sentiment: Buy Disclosure: Held
40 Upvote

0 Great analysis

Reply

Top Stories

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

SBW

Shekel Brainweigh CEO Nir Leshem weighs in on AI adoption ahead of FY25

RDN

If you thought lithium was dead, think again. The Pilbara will be central to the next upswing

FHE

Frontier Energy achieves key milestone for Waroona energy project

There are more pages in this discussion • 70 more messages in this thread...

First 107 Last

Add ADN (ASX) to my watchlist

(20min delay)
Last 1.7¢		Change 0.000(0.00%)		Mkt cap ! $52.87M

Open	High	Low	Value	Volume
1.7¢	1.8¢	1.7¢	$48.11K	2.747M

Buyers (Bids)

No.	Vol.	Price($)
10	809136	1.8¢

Sellers (Offers)

Price($)	Vol.	No.
1.4¢	119821	2

View Market Depth

No.	Vol.	Price($)
58	18607271	0.017
30	6161917	0.016
16	4557242	0.015
3	996428	0.014
3	1619230	0.013

Price($)	Vol.	No.
0.018	6968611	10
0.019	2690171	6
0.020	793160	10
0.021	1250000	3
0.022	408654	8

Last trade - 15.59pm 21/06/2024 (20 minute delay)

ADN (ASX) Chart

Haha! ive been trying to stay out of the trolling saga, but this...

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

Shekel Brainweigh CEO Nir Leshem weighs in on AI adoption ahead of FY25

If you thought lithium was dead, think again. The Pilbara will be central to the next upswing

Frontier Energy achieves key milestone for Waroona energy project

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Haha! ive been trying to stay out of the trolling saga, but this...

Top Stories

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

Shekel Brainweigh CEO Nir Leshem weighs in on AI adoption ahead of FY25

If you thought lithium was dead, think again. The Pilbara will be central to the next upswing

Frontier Energy achieves key milestone for Waroona energy project

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News