Yes a capital raise is imminent. Will now have to done at 1.5-1.8 cents and will be dilutive.
On 30/5/18 ARD announced... "Drilling to proceed as the top priority."
It is now 2 months later and no drilling.
It does not take 2 months to organise drilling on land you own!
In the quarterly they again claim they are planning drilling and describe processes that should already be complete if drilling really was the "top priority" from 30/5/18. This time they have provided excuses for further delays to cover themselves.
Is ARD showing a lack of interest in Kempfield the explanation for such delay? The current resource at 120g/t Ag equivalent is worth A$80-A$85/t. So it is marginal. Making the deposit bigger at similar grades would enhance the economics and IMO this is the most likely outcome from the drilling. Having a quick look at SVL Bowdens deposit which is also in NSW I saw that both deposits have ~100Moz Ag equivalent but Kempfield is is at 120g/t Ag equivalent whereas Bowdens is ~100g/t Ag equivalent.
Are ARD trying to acquire another asset to do a capital raise on the back of?
I am being provocative here to spark some debate. GLTAH
ARD Price at posting:
1.8¢ Sentiment: None Disclosure: Held
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