Gents, This company really excites me, reasons why as follows:...

Gents,

This company really excites me, reasons why as follows:

Nickel Sulphide

• Kabanga Jirani Nickel Project a portfolio = 1,120km2 surrounding and proximal to the world class Kabanga Nickel Deposit (58Mt @ 2.62% Ni) and located along the KaragweAnkolean belt in Tanzania.
• Ultramafic intrusion hosting disseminated sulphides discovered at Kabanga NE (20/04)
• Similar EM signature to Kabanga Nickel Deposit
• Similar magnetic signature to Kabanga Nickel Deposit
• Drilling June 2021

Region

• President Magufuli won second 5-year term with new Cabinet appointed, pledges to remove investment hurdles, and invite foreign investment in mining
• Barrick’s recent progress affirms pro-mining climate:
  - Twiga Minerals paying dividend of US$250M; and
  - expeditious granting of 10 exploration licence
• Kabanga Nickel (Adjacent project) signs recent Framework Agreement with government which:
  - secures foreign investment of US$664M; and includes
  - the granting of a Special Mining Licence,
  - associated infrastructure; and
  - the commitment of a Class 1 Nickel refinery

Uranium (Blue Sky Potential)
Adavale also holds three exploration licences within part of the highly prospective sedimentary uranium province within the northern part of the Lake Frome Embayment.


Management, New-flow, Cash

• Management have proven track record
• They aren't getting paid in Cash, they're happy with shares (Skin in the game)
• 9 Month turnaround so far has been incredible
• Cash conservation with drilling - I haven't seen a quarterly like this in a long time (cash preservation vs work done)
• As at March 2021 Quarterly they hace 4.6quarters of cash left
• Top 20 - 40% (and Tight register <$20m Market Cap)
• Nil Debt

Target - Pre Drilling >10c On Strike >40c