Judging from the share price insiders are selling again. How else can one explain the price drop without new information? With first production approaching the price should be going up. So, I am afraid that Paul will again surprise us with negative news.
We have all seen this before, the postponement of start of production by months, then by weeks to "first concentrate production in Q1 2024". When a substantial cash raise was undertaken in Q4 2023 Paul must have known about the long term nature of the problem(s), but did not disclose these fully. By that time he must have known about the geotechnical problems as mine development must have reached the deposit's boundaries. Amazing the poor ground conditions were not picked up during the feasibility study. With all the boreholes available they had not logged bad ground?
The press release above gives as excuse for the delay in commissioning "limited availability of instrumentation technicians and equipment delays due to shipping being rerouted from the Suez Canal". How lame an excuse is that? It seems that Paul can't help himself and be an open book.
What is left to go wrong? I suppose metallurgical performance. I am already mentally preparing for that. ADT apparently too, that is why they intend feeding "average" grade to the plant in 2024 rather than "high" grade.
I like the project, but the management is pathetic.
Judging from the share price insiders are selling again. How...
Add ADT (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$4.40 |
Change
0.000(0.00%) |
Mkt cap ! $1.141B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1925 | $4.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.34 | 1060 | 1 |
View Market Depth
| Last trade - 16.16pm 27/05/2024 (20 minute delay) ? |
| ADT (ASX) Chart |
Day chart unavailable