At the lastADN preso i attended James had a very conservative target of production by end 2020. He stated he is not 1 to over promise and under deliver so i would say worst case scenario production will be in full swing by back end 2020. The main hold up will be permitting with different permits required for DSO vs dry processing plant with the dry processing permits likely to take longer. This is why ADN will stage different production targets with DSO kicked off as soon as permits come in and as soon as dry processing permits in they switch with much bigger margins on sales. Not forgetting with all the current bulk dry/wet processing trials being undertaken in China and the US We may see ADN process their DSO overseas themselves through a toll processor for a fee or in a JV type agreement. ADN are currently in discussions with numerous parties wanting off take so potentially they have a wide market they can choose from for how they play the production path. Just think of companies who are many years or have been many years away from production and what their market caps sat/sit at. ADN will be in production next year and i feel we will see that by mid year with James being conservative but confident with plans. Dont forget the big thing here is Poochera is on farm land without Aboriginal clearances required which hold up many mining permits. Also the Sth Aus government are very keen to see new mines opened up and job creation. This is the perfect fit with a simple low cost operation. I have never seen a better spec play at a cap so low that will be in production with low cost/capex at a rapid rate. Market is just waking up to this play but i doubt we will be sitting under 50 mill cap over coming months.
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