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0.7¢ andromeda metals limited

Ann: Definitive Feasibility Study (DFS) update, page-219

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Mencel_as_anything

2,004 Posts.

261

06/04/22

10:37

Post #: 60680715
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Originally posted by szopen: ↑

I'm not sure if DSO is going to be out of DFS.

In my opinion the 12 months of delays have been caused by problems with the numbers and finances not working out as expected.
I think that the capex for original concept (wet refining plant with bagging operation) came much higher than expected and the management have been trying to find another path to production.
Soon we will see what they have found, serious change of direction is possible.

There may be a bit less money in the bank now as well. Quarterly cash burn is around $2 million, not sure how they will account for $3.14 million funding provided to MEP and the corporate advisors fee for takeover was due on 22nd of February ($2 million from memory, not sure about this one).

We will find out soon enough.

Expand

the 3m to MEP was a joke but is what it is. we have hired a bunch of new staff so i expect that 40+m to be closer to 35m by now

ADN Price at posting: 17.5¢ Sentiment: Hold Disclosure: Held
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