Of course a CR is needed with only $9M in the bank and still burdened with negative cashflow. Drilling 5 new wells in 2025 (see announcement dated 10/1/25) means an expenditure far in excess of a paltry $9M and thats even allowing for the farming out of all 5 wells. There must be some doubt as to whether their current partner will want to participate again after losing an absolute motza last year.
Raising cash at a low price is painful but it is necessary in this case. My experience with these junior resource stocks is when the market knows they need to raise fresh capital the company should pull the pin and get it over and done with ASAP. Only then can everybody move on and the share price potentially rise.
Dicking around and doing nothing about a lack of capital is the dumbest mistake a company of this size can make.
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adx energy ltd
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2.6¢

Ann: Quarterly Cashflow Report - December 2024, page-4
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Last
2.6¢ |
Change
0.002(8.33%) |
Mkt cap ! $15.09M |
Open | High | Low | Value | Volume |
2.7¢ | 2.7¢ | 2.6¢ | $8.753K | 324.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 222351 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.8¢ | 120000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 222351 | 0.026 |
2 | 430170 | 0.024 |
1 | 152000 | 0.023 |
4 | 268450 | 0.022 |
1 | 200000 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.028 | 120000 | 1 |
0.029 | 146573 | 4 |
0.030 | 299278 | 6 |
0.031 | 227000 | 1 |
0.033 | 40000 | 1 |
Last trade - 15.18pm 31/07/2025 (20 minute delay) ? |
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