ADN 0.00% 0.8¢ andromeda metals limited

Ann: Procurement of Long Lead Items for the Great White Project, page-318

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  1. 336 Posts.
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    I understand the difficulty that exists on the path to mining, and probably even moreso in the current economic climate we are experiencing. I also except that there usually seems to be a large drop off in the companies share price just prior to mining, which is where we are now. I have a number of questions that I'd like answered from management, and hopefully they will be in the coming week. I don't need my investment money for at least three years, so I have time up my sleeve to watch this grow, but I do need it to reach at least 16 cents as that is my average buy in and I have a reasonably large position. Yes I got caught up in all the hype as this was running up to 46 cents so I entered later than many and I've learnt a very valuable lesson along the way. My first buy was actually 25 cents and I've been able to average down over time to 16 cents, but I have a mate who is stranded up at 29 cents, and whilst I didn't tell him to buy, I was the one who told him about it, so I feel guilty for that. So to see the price action yesterday, and only a few months after the DFS drop-off, it really is testing the emotions at the moment. So I am basically stuck invested here at the moment as to bail now is a big loss for me and I can't leave my mate stranded alone up at 29 cents. One concern for me moving forward is what is the company going to offer as support/ growth for the share price in the next 18 months leading into production? What positive news items will they have to offer? Reading between the lines of the yesterdays announcement where they said they will have "50,000t/pa of product to fulfill customer agreements, and samples for prospective customers to evaluate" seems to suggest that they can't get any more BOA's at present because the prospects want to test the product for themselves before committing. So if that's true then I guess we won't be getting any good news new BOA's in the next 18 months. I don't know if I'm on the right line of thinking here, but there are a number of areas that aren't clear, so all I'm left with is to speculate I guess. I really am hoping for a professional response from the company on Monday that will clear up a number of issues and install a bit of confidence into those of us who are still here.

 
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