ADV

3.70%

13.0¢ ardiden ltd

Another PLS in the making!, page-18

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heavenlyhaloes

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06/05/16

11:11

Post #: 17693847
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Originally posted by JSB007 ↑

I think everyone needs to keep in mind this is maiden drilling to assist with completing due diligence. ADV doesn't even own this tenement yet, they have just so far entered an option to purchase it.

The size of the deposit is the make or break. I'm not a subject matter expert but I think it is plausible to say they would need to conduct more drilling to find out the size of this deposit.

I'm not sure if we will see the market cap go higher until the size of the deposit is confirmed or we have an exploration target of 15MT+ (assuming we own the tenement).

A couple of things to consider:
*As part of their due diligence I assume that management would try and figure out what the exploration target, or potential size of the deposit is based on the drilling they have conducted so far. If they think it is worth exploring further and they take up the option to purchase it then things will get interesting. They would have committed to purchasing a tenement that might not hold an economical resource. If they do take up the option to purchase the tenement, i will be reading the announcement carefully to see if it says anything about an exploration target.

* ADV has entered in an option to purchase Root Lake. To summarise, a previous company did some exploration and thought they found approximately 2MT on 5% of the prospective area. This figure is not JORC compliant or the Canada version compliant (but it gives you an idea of what could be there). If you were to extrapolate that (based on nothing more than hope and guessing i should add) to say after further drilling 40% of the Root Lake prospective area has the goods, then Root Lake might have 40%/5% = 8 x 2MT = 16MT

Basically, all I'm trying to say is I don't think we can rule anything out yet, but also i don't think we will see our market cap go much higher until we see some positive exploration targets for Seymour and or Root Lake.

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A reasonable perspective JSB007. With these speculative stocks one must always keep in mind the positive and the negatives to keep a balanced perspective. You will make better decisions this way. Ive been burnt enough before in the stockmarket for dismissing the risks. That said, this stock is very promising and Im happy to have my share.

ADV Price at posting: 4.3¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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Last 13.0¢		Change -0.005(3.70%)		Mkt cap ! $8.127M

Open	High	Low	Value	Volume
13.0¢	13.0¢	13.0¢	$7.593K	58.40K

Buyers (Bids)

No.	Vol.	Price($)
2	60287	13.0¢

Sellers (Offers)

Price($)	Vol.	No.
13.5¢	6976	1

View Market Depth

No.	Vol.	Price($)
2	60287	0.130
1	194147	0.125
2	61666	0.120
2	40867	0.115
3	77270	0.110

Price($)	Vol.	No.
0.135	6976	1
0.140	20000	1
0.145	65662	2
0.150	52174	2
0.155	45016	2

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ADV (ASX) Chart

Another PLS in the making!, page-18

Vulcan appoints investment bank and M&A veteran to board

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

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Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

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Another PLS in the making!, page-18

Top Stories

Vulcan appoints investment bank and M&A veteran to board

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Utah authorities sign off on Anson's lithium extraction plans at Green River

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

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Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News