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ADN

12.5%

0.7¢ andromeda metals limited

Not remotely worried about Teals, or greens, or labor. The...

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Vegantacos

1,513 Posts.

437

09/06/22

18:10

Post #: 61925669
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Originally posted by Andyrooo: ↑

I've been following the progress of ADN for a while ... and many other ASX stocks.

I thought I'd have a dabble with a small holding today at 8c. Considering they hit 11.5c last week, that's a 30% discount. Although I appreciate they've been mainly trading around the mid 9s. However the new Chairman reaching into his pocket for a stock validating purchase, seems encouragement enough.

I need to do more research. For a Company that has defined its resource and delivered its DFS, the share price movements seems standard fare.

A lot of Companies being sold off recently, especially the undeveloped ones. Macro economic concerns with GDP downgrades everywhere some concern. I don't see this as a short term hold. Project development delays could unfold.

I note that if development is delayed the Company still has a fair swag of cash of ~$35m to get them through.

A new Teal Federal Government is cause for some concern. ESG energy standards are sure to become more stringent. I wonder how that might affect development of the project?

Essentially, a share price of 8c gives a MC under $250m. Cheap. Still, in the current macro economic environment it could fall further. If it does, I'll be buying more.

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Not remotely worried about Teals, or greens, or labor. The project is low environmental impact and has a tonne of promise in unlocking a lot of green technologies (carbon capture, ocean plastics, battery efficiency).

Last edited by Vegantacos: 09/06/22

ADN Price at posting: 8.1¢ Sentiment: None Disclosure: Held
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0 Great analysis

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