General comments/chat, page-15217

My take on the interview is very, very positive. As JM said a few times these are a long life projects with considerable reserves and the biggest problem they have is deciding how to structure the product mix in the upcoming DFS as there are so many options as to which products they may be selling.

On a positive note, the traditional markets will make the company (and us) very profitably in the initial production stage and finance future product streams as they are proven to be viable and sustainable.

In the medium to longer term, shareholders are likely to see a number of income streams arising from the options available to the company as they develop new markets that are proven to be financially viable.

It is worth noting that just selling kaolin clay delivered a PFS with an internal rate of return of 175%. That is indeed very rare. So I suspect Year 1 production will be largely devoted to traditional kaolin customers with some initial sales into the concrete market, N.B. the concreate is an international market!!! ... and it will most likely take some years to win over all relevant users of concrete locally and overseas to the benefits of halloysite kaolin. if anyone works at a CEMEX owned company tell the boss!!

To sum up, it is all looking very interesting and there is an enormous amount of growth potential for ADN for many years to come. I think that many of us will still be holding ADN/MEP in 3 to 5 years time and enjoying the rewards (SP growth and dividends) for our research, patience and trust in ADN.
Cheers W2

P.S. There is one other thing that I still cannot get my mind around and that is you can get direct exposure to ADN at about a 55% discount by buying shares in Minotaur - MEP which own 25% of the Great White and Camel Lake deposits. Strangest thing I have seen in 20 years of investing and yes I do have shares in Minotaur, lots of them!

P.P.S. ask yourself, "how often have you had the chance to invest in a company that may be able to make a considerable contribution to cleaning up the atmosphere and water sources?"

Good luck to all investors

Cheers W2