ADN 8.70% 2.1¢ andromeda metals limited

Pretty much. Writing was on the wall with constant DFS delays...

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    Pretty much. Writing was on the wall with constant DFS delays and thankfully i took a but off the table but i feel for those in the red and not much to cheer for until end of year. Biggest concern for me is no revised timeline for start of construction. BFS was suposed to be 3 months after DFS so finance could be secured.Hope its a good one becuase with rising interest rates and costs, that 175% IRR down to 36% IRR becomes even less and wont look good from a banks perspective. pay back period 6 years, divs not until 2032 with more dilution in between.
    I think more hard questions need to be fired at JM for blowing smoke up everyones back side while delyaing the DFS trying to work the numbers more favourably, just to dump it to market at midday while he collects all his free shares and cheap options.
 
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