Ann: Investor presentation, page-438

This post is my own opinion, I present this information substantiated with charts and links to the original data.
This information is relevant to the thread as it refers to comments and analysis, being made in the Presentation and Presentation thread, it factually clarifies information presented within, is a substantial part of the topic being discussed regarding the financial viability of Australian peers

Links to the data being capital raised from reports for both companies.
https://australianmines.com.au/asx-announcements/#irc_content_anchor
https://ardearesources.com.au/announcements

Ardea Resources		Australian Mines
Capital Raising Events
		8/02/2017	$1,000,000.00
		5/04/2017	$2,000,000.00
15/09/2017	$5,540,000.00	6/11/2017	$20,000,000.00
		11/09/2018	$12,000,000.00
		27/02/2019	$5,000,000.00
		17/07/2019	$5,800,000.00
9/10/2020	$4,800,000.00	14/04/2020	$14,500,000.00
		26/07/2020	$5,200,000.00
28/06/2021	$5,700,000.00	28/07/2021	$6,500,000.00
22/02/2022	$21,500,000.00	30/05/2022	$3,700,000.00
		17-06-2022 Retail	$710,965.00
		22/11/2022	$4,550,000.00
		02/12/22 Rtail	$1,611,905.00
		KPM Underwritten	$1,238,095.00
		8/03/2023	$7,400,000.00
Total Raised	$37,540,000.00	Total Raised	$91,210,965.00
Market Capitalisation	$76,318,734.00	Market Capitalization	$13,698,460.00
Value created $	$38,778,734.00	Value Created $	-$77,512,505.00
Value created %	103.30%	Value Created %	-84.98%
Date 05/05/2023		Date 05/05/2023
NOTE		NOTE
ARL M/C is worth substantially MORE than		AUZ's M/Cap is worth $77 Million less than the
the capital raised, therefore it stands to reason		Total capital raised since 2017 to date
that management are more effective		That is a very sobering thought
MY CLOSING THOUGHTS
RICH DAD		POOR DAD

In this example we see that Ardea Resources has created value in the company considering M/C.
In contrary Australian Mines shown has spent substantially more and they have created negative value in the M/C.
These comparisons are important as they enable benchmarking of progress
RED