We had a previous discussion re this and felt that if you included the implied value of the oppies, then shares were actually valued at 1.6c for the CR which is where the market has pegged us atm (1.6/1.7). Hence, I am not surprised and expect it to hold - until we finally get that funding agreement squared away, which clearly still faces some hurdles, else we would not have had that intermediate CR.
Might have also been a strategic ploy (or request?) to demonstrate to Merrick that there is indeed wide interest to plough $$$ into ADN, and belief into the company. The successful and oversubscribed CR has proven this. So, onwards and upwards! Imagine what rocket finally obtaining financing would put under our SP, when we finally get confirmation that we will go mining as all else is in place incl. permits! In fact, I don't believe the market recognizes how big that is and has not factored it in - as it's actually worth nothing if you cannot get funding.
The next few weeks should be exciting - and I'm sure we'll soon be able to tell from our SP. Bring it on!
ADN Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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