Ann: Great White Kaolin Project - Definitive Feasibility Study, page-319

being new to the pleasure trip between developer and producer this is quite a learning curve for me.
i always wondered why in the life cycle modell of mining the drop in the pre-production phase would be so steep.

now i know.

i did not expect so many variables to be changed in the dfs without prior comments/ guidance from the ceo.
like i said before: adn urgently needs a senior ir-person .
i do not think jm did this blunder on purpose, but after the bad cr it is the second time a fundamental communication mistake is done.
capital market does not forget that.
it will not get easier to bring the messages through in the next year.

so what to do now :
the valuation npv to market cap ratio may have adjusted at this sp. short trrm volatility will remain high, msny people want to grt out with rising sp, as the timelines once again are delayed.
we have to hope that on this dfs-basis the bfs and financing will go through and not pose a subsequent problem. that is the next speculation issue.
bluesky projects ( thus additional investments)have no influence on sp atm, i think.
we have to get cash flow soon.

adn continues to be a place for speculation for the time being.
npv-valuation will not help to rerate for the time being.

if we get new boa's and confirm the existing contracts it would allow to sketch an earnings forecast for 2023/2024 which could help seeing adn as cheap.

so regarding fridays preso i hope it will explain the situation in a substantial way/ no sales pitch, and show the earnings potential for the next years.
that may trigger some buying. but we will not see the 15 cr-level so quickly, i think.

never thought it would be so true :

longfor longer