""...nothing to show for it"...yet.""
I have to disagree, since 2019 they've achieved the following:
- Mining License
- PEPR
- Established an official - initial - 28yr+ resource mine life
- Created a competent & experienced in-house team w/ IP in place to further firm up a resource that they've only scratched the surface of
- Purchased Streaky Bay accommodation
- Made ports aware of impending production
- Discussions with State Gov & Regional council for grants & preparing infrastructure upgrades
- Acquired a $117 million dollar approx tax deduction for future use (pending ATO approval)
- Acquired 100% ownership of Great White
- Negotiated a discounted mineral royalty
- Successfully negotiated an acceptable land acquisition agreement with landowners (& not subject to native title)
- Appointed a new CEO & Chairman, both ruthless pragmatists with a demonstrated track record of getting stuff done & willing to buy substantial blocks of shares ON MARKET with their own money https://hotcopper.com.au/threads/ann-change-of-directors-interest-notice.7399807/
None of the above is sexy but all critical to making that move into production.
There's plenty for shareholders to be disappointed & disgruntled about but I reckon on paper that's a pretty impressive list for any explorer aspiring to produce.
I agree the future is unclear, it could be forced into VA, it could be subject to a hostile takeover bid but it's still very possible that ADN will make it into production and reward shareholders for their patience & conviction....that's the hardest part....
Looking forward to Friday with Bob
