ADT 1.85% $3.85 adriatic metals plc

It's a bit confusing actually, I missed it on the first read but...

  1. 3 Posts.
    It's a bit confusing actually, I missed it on the first read but saw a broker update from SCT (Sprott) that had crunched the numbers after the announcement. A couple of snippets... "what the market may have missed is the reserves were effectively cut at spot prices, with 11% drop in grade, and 28% drop in recovery (surprisingly Au recovery not reported today) for a meaningly 38% drop in NSR with little colour given on recovery drop". They reference the table on page 12 for the recovery drop. They also mention "This before payability is reported, with big changes (Cu, Pb and Ag no longer recovers to Zn con, Zn no longer recovers to Pb-Ag conc, gold recovery not even reported". They could be completed wrong, I've got no clue.
 
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Last trade - 16.10pm 06/06/2024 (20 minute delay) ?
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$3.84
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