ADG

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0.4¢ adelong gold limited

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Holmesearth01

7,457 Posts.

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20/11/17

22:28

Post #: 28965872
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Originally posted by jamestown1 ↑

For any newbies out there wondering, this was an overwhelmingly positive update and to be quite honest is actually one of the key bits of news I was waiting for.

Why you ask?

Ok granted delays are always frustrating, but they are also part of mining, particularly in developing countries.

But this is no greenfields exploration company who needs the drilling to discover a resource, this is advanced play with a proven resource, drilling only to satisfy ASX regulations to get a JORC resource.

2-3 weeks delay in the scheme of things will no matter even slightly!!

BUT... the discovery of an area with similar gossans and epithermal style quartz veining like that at Morne Bossais HUGE.

This was the one thing that could make this project much more valuable and that thing is increasing the resource at Morne Bossa. Never mind Grand Bois for now, MB is where the mining license is granted and will be where they build the plant first and start generating cash flow.

It is crucial that the plant stays at MB for as long as possible before moving to GB. A new discovery 4.5 kms away would be perfect. Of course there is no guarantee that this surface discovery will lead to an economic deposit discovery, but we are clearly in the right address.

So, short termers, feel fre to exit because of a 3 week delay, but those rational investors amongst us will Hoover up your shares because they can easily see that a 3 week delay is a short term nuisance but have 2 additional targets close to Morne Bossa which could increase the resource and mine life is a long term value driver.

And if u don’t believe me, take a look at the depth and the buyers at .9c. Patiently waiting to get some bargain stock.

So if you are a short term trader, then bye bye go and trade something else, it will tighten the stock up anyway. But if you are a medium-long termer like myself, todays update was amazingly positive. Just what we wanted to hear.

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Topped up today very happy to gobble up some more at .01 cent

I can easily wait some more weeks this is an outstanding opportunity to get set at this low market cap

while we wait for the big 1 million plus high grade ounce resource to be drilled

DDD Price at posting: 1.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $4.471M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.4¢	$6.616K	1.423M

Buyers (Bids)

No.	Vol.	Price($)
38	27131008	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	6708608	6

View Market Depth

No.	Vol.	Price($)
36	26681008	0.004
27	31948056	0.003
10	44070000	0.002
10	80805000	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	5556968	5
0.006	7306010	8
0.007	7761634	12
0.008	4022339	8
0.009	1961111	4

Last trade - 15.47pm 19/07/2024 (20 minute delay)

ADG (ASX) Chart

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