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0.5¢ adelong gold limited

Hi @playwithfire, how's things?I wonder if Ian Hastings non-exec...

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GravityWaves

1,702 Posts.

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29/07/24

10:27

Post #: 74958760
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Originally posted by playwithfire: ↑

Adelong agreed to a proposed settlement of its outstanding loan to Cosmo Gold. NonBinding Agreement was reached as part of a proposed transaction between Adelong
Gold and both Sarama Resources Ltd. and Cosmo Gold Ltd.
• Mena Habib was appointed as Chairman of Adelong, effective 30 June 2024, with the
appointment aimed at accelerating Lithium and Rare Earths projects in Brazil
• Ian Hastings has retired from his role as Chairman but will continue serving on the Board
as a Non-Executive Director, with a focus on completing the Cosmo Gold transaction
• Capital raising, completed through Share Placement and SPP, raised $1.46m to advance
the Adelong Gold and Brazilian Lithium projects
• As at 30 June 2024, the Company had a reported cash position of $1.15m

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Hi @playwithfire, how's things?

I wonder if Ian Hastings non-exec role (i.e. just hanging around to complete the Cosmo transaction) is part of some plan to make sure that any cash proceeds from a future Cosmo transaction are re-purposed as a 'goodbye ADG' (severance / termination) pay-out. Just a guess.

Last edited by GravityWaves: Today, 10:29

ADG Price at posting: 0.4¢ Sentiment: None Disclosure: Held
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