Ann: Trading Halt, page-140

The interesting question here is whether the “sophisticated” investors will actually be willing to invest at 1.25c?
I’m not so sure about it.

Also not sure if existing shareholders will be willing to risk more money in the placement.

ADN spends around $3 million per quarter, there was $5 million at end of June, even if they manage to raise the full amount it will be around $5 million after costs getting ADN three quarters of spending money or till end of March next year. They will not be able to do another CR before March.
The only way forward would be to scale back any company activities to minimum, which in turn would delay any start up of operations.

Still need to find $100 million to fund the mine, processing plant and start of production.
Who would borrow such amount of money to a company like ADN?

Methinks she’s cooked.