Ann: Further Drilling Scheduled for Gibraltar, page-40

Hi @CJTJ, it looks like the SP has started drilling into $0.008 over the past few days.

If the March drilling at Gibraltar comes up with something spectacular & assays are announced in 8-10 weeks from now, perhaps there'll be another pump-n-dump to strategically coincide with the next CR. Unfortunately the positive effect on the SP from the previous encouraging drill assays at Gibraltar had a limited life span. However having said that, the SP response to the Jan'23 Gibraltar assays was miles better than the SP response to the positive drill assays in 2022 from Caledonian (where the SP didn't respond at all in the lead-up to the $500K CR with a pre-consolidation issue price of $0.002 announced on 29/06/22)...

https://hotcopper.com.au/threads/ann-high-grade-results-at-caledonian-deposit.6768394/?post_id=61694291
https://hotcopper.com.au/threads/ann-proposed-issue-of-securities-ddd.6816295/?post_id=62264137

In terms of funding: something similar in size required (but a lot more secure) than the JV funding that Tasman Goldfields (TGX) announced to the market on 13/07/09. Unfortunately AusCan Gold Ltd developed cold feet & ended-up bailing out of the JV. No doubt the funding options that ADG have been considering (without any commitments having been made as yet) will need to be much stickier than TGX's funding efforts. From a coincidence perspective, the funding ADG require to deliver on their production start-up expectations is similar to the dollars that TGX required 14 years ago (i.e. $16M - 17M). TGX acquired the Adelong mining tenements, plant & equipment as well as other property from Golden Cross Resources in 2007 which makes the TGX / ADG funding comparison a bit more interesting...