ADN 12.5% 0.7¢ andromeda metals limited

General comments/chat, page-5025

  1. 14,356 Posts.
    lightbulb Created with Sketch. 4164
    Hi Halo,
    Do you have anything to back up your concern regarding the salinity of the ground water? What makes you think it might be an issue?
    In the conference call, MD James Marsh tells of how he left his family behind in QLD and came to SA because of the great potential that he saw in the deposit. He also told of how familiar he is with the project with a history dating back 30 years. He is also extremely experienced on this type of resource.
    From the scoping study "The groundwater on the west side was saline (36,000 TDS) as is typical for the region, while that water on the east side was less saline than expected (1,300 TDS). Mining is planned to commence at the shallower western end of the northern pit and proceed in eight further ~200m cutback stages over 11 years to the eastern end of the pit, and then proceed to the south pit."
    So it appears that ground water salinity in the area is as expected on the west side and well below what is expected for the region on the east side.
    Interestingly initial mining is planned to commence on the west where the water is saline as expected.
    Three questions for you;
    If salinity was an issue and salinity is normal in the region, then why would an industry expert with very solid knowledge of the resource leave his family behind and come to SA to develop the project?
    Why would customers sign LOI offtakes ?
    Why would the plan be to begin mining on the western end (salty side) rather than begin mining on the eastern end where it is known to be far less salty?
    It appears to me that the expected salinity of the ground water, that is normal for the region, is just not a concern.
    If you have evidence to the contrary, please share.


 
watchlist Created with Sketch. Add ADN (ASX) to my watchlist
(20min delay)
Last
0.7¢
Change
-0.001(12.5%)
Mkt cap ! $24.00M
Open High Low Value Volume
0.8¢ 0.8¢ 0.7¢ $10.00K 1.312M

Buyers (Bids)

No. Vol. Price($)
61 28008736 0.7¢
 

Sellers (Offers)

Price($) Vol. No.
0.8¢ 3800000 5
View Market Depth
Last trade - 16.10pm 18/10/2024 (20 minute delay) ?
ADN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.