ADD (ASX) Ann: Geological Team Mobilised For Next Phase of Exploration

Originally posted by paulk002: ↑

That was quite an informative interview, thank you for the heads up.

The ADD price action has been a little disappointing lately so it was good to hear where the company is at. I was particularly impressed with the CEO, Allan Ritchie, who came across as well spoken, knowledgeable and genuinely excited about the company's prospects. I can see how this new board & management have managed to transform this company so quickly since they commenced less than 6 months ago.

Some of the main points from the interview as follows:

Company background
Board has only been together for around the last 6 months.
Rod Chittenden (non-executive director) has been in Tanzania for the past 9 years.
Grant Pierce (non-executive chairman) has been in Tanzania for around 15 years.
Both have extensive experience in working in Africa and developing mining projects from the exploration phase to production.
The 5 additional mining licenses recently acquired by the company were selected after reviewing extensive BHP data including surveys, geochemical analysis and geophysics analysis.
The geoscientist who worked on compiling the BHP data has joined ADD as a consultant geo. He helped to select the additional licences, in addition to identifying areas to focus exploration activities within the licenses.
The BHP data has helped ADD to fast track their exploration activities by saving a significant amount of costs and time (at least a year).
ADD's competent person consultant, Mr. David Dodd, is a world-renown Nickel Sulphide expert, being responsible for Nickel and PGE discoveries across the African belt. He has worked on 30 Nickel and PGE projects over the years and knows the terrain well.

Current Activities
Mr. Dodd is on the ground now with senior geos looking for high priority Ni & Cu targets in ADD's licences which replicate the nearby world-class Kabanga Nickel project.
ADD is focused on having some drill intercepts by the end of June 2021 at the latest. Hopefully shallow and high grade!
Currently working through to achieve tight in-fill sampling to find focused targets. In-fill sampling will go for around 3 months.
Ground EM teams will commence in around 4 weeks and will follow the soil sampling geos for feedback of further focused targets.
EM survey will help give a better idea of the depth and structure of the orebodies.
Good newsflow expected over the next 3 months, with the company updating the market regularly with respect to exploration phase progress, survey and sampling results, high readings found and drilling activities.

Geopolitical Environment
Investors and miners who the CEO has spoken to are bullish on mining in Tanzania.
The Tanzanian President and the Mining Minister have both recently been re-elected and are very supportive of foreign investment in the country's mining industry.
The recently awarded Kabanga Nickel project is not only a $664m investment in the project, but also in the infrastructure of the area and will allow a class 1 Nickel refinery to be built. This refinery will be able to support a number of other nearby miners and will improve mineral resource economics for projects in the region including ADD, who are right on their doorstep.
New infrastructure and power projects by foreign investors are regularly being announced in Tanzania.
Getting ADD personnel into Tanzania hasn't been a challenge at all.

Industry
The EV evolution has only just commenced as evidenced by battery metals including Nickel, Graphite, Cobalt, Copper and Lithium all having tremendous runs.
EV metals commodity supercycle could go on for 10 - 20 years.
ADD is focused on the right metal, with the Ni commodity price at their highs.
Cathodes require a lot of Ni and forecasters have spoken about demand outstripping supply of class one Ni (such as Ni Sulphides) from as soon as 2023/2024.

Funding
ADD is well funded, having $2.3m in cash as at 31 December 2020.
Company is privileged to have private institutions take placements, including world-class insto Ausbil Global Resources.
Current capital market is supportive of funding, especially for exploration projects targeting the right metals (battery metals).

I believe there is lot to like for a company with a market cap of only approximately $16m.
Quality management - ✔️
Highly prospective licences - ✔️
Funds in the bank - ✔️
Sought after resource - ✔️
Rising commodity price - ✔️
Refinery option (soon) - ✔️

Now seems to be a good time to accumulate ADD just before the news starts flowing IMO. GLTAH and please DYOR.

Expand

Must watch interview imo

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(20min delay)
Last 0.5¢		Change -0.001(10.0%)		Mkt cap ! $4.572M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$2.029K	450.9K


Last 0.5¢		Change -0.001 ( 0.00 %)
Open	High	Low	Volume
0.5¢	0.5¢	0.5¢	45500
Last updated 14.10pm 17/05/2024 ?

Must watch interview imo

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