General comments/chat, page-32570

James called me friday night whilst he was waiting to fly to the Uni to work over this weekend on our projects up there. He never stops…

The capex has a “significant” amount of room built in it so I wouldn’t be surprised if this comes down somewhat by the time we get to the build phase.

Shipping is starting to get some capacity back in as well as supply chains opening up. Generally freight is up over 100% as well as steel etc so if we have a 25% reduction for example across the board over the next 6 months we may see a much lower capex requirement.

James expressed how extra conservative the DFS was and people didn’t understand this. I made it pretty clear that this whole DFS thing was a cluster F… and it had cost holders many dollars and the companies Credibility. It was pretty clear to me James is overworked and under resourced which contributes to these stuff ups. He had 170 missed calls and about 1000 emails from SH on dfs release which he tries to respond to all. Not really what he should be doing So im glad the new chair has already started to make some changes.

He was 100% confident that he will turn this around quickly now the DFS is out. The DFS release now allows him to lock in deals he is working on as it proves ADN will move to production etc. Companies dont want to waste their time on negotiating big contracts if ADN still hasn’t decided there is a viable business plan which we have now in our base case DFS.

The next 3-6 months will be defining for ADN and it needs to be to Bring confidence back in the stock.