"And that concerns me, as there is a lot of smart and big money chasing great opportunities. "
With all respect and IMO
The above statement is a logical thought.
IMO smart and big money wait for projects to derisk and do not go for multiple bag spec stocks
They would rather percentage increases in stable companies with strong moats e.g. CSL
IMO you need to break the ADN opportunity down...
The ADN business case on the table at the moment has nothing to do with deep science. It is simply feeding established markets in Ceramics and Petrochemical industries and a few others. The business case is strong and the numbers excellent, but being an industrial mineral it is not sexy! As yet there are still a number of de-risking steps to go before big money will jump in.
IMO the two biggest risks are mining permits and off takes.
ADN have advised end user testing is ongoing and when complete in the coming months we can expect some off takes. Mining permit applications are in progress and expected in the next 6 - 12 months (allowing for COVID-19)
The above is what I call investing for the NOW or keeping it real.
i.e. there is a business case, so it is real but has risks
...and HPA, whilst exciting, is currently not part of the business case.
Certainly not part of my reason to invest.
Sure, there are other uses of Halloysite such as HPA, medical drug delivery, hydrogen storage and water purification. Apart from HPA, most of these new uses are still in research stage in universities. Smart and big money will not go anywhere near this as they are as yet not real opportunities. It is simply blue sky and no business case can be made for it yet. e.g. is there a market and how much will they pay? Exciting? yes but currently not a real opportunity for SHs. e.g. no business case.
As for HPA, it is big capex and therefore bigger risk and IMO is not currently worth the SH dilution to put into production. e.g. best to fund from free cash flow or toll processing.
IMO in summary, if there is no business case then smart and big money will not go near it. You may get the odd speculation from big money but it will be a tiny percentage of their portfolio and unlikely move the SP.
IMO in terms of timing, ADN presents one of the shortest timelines of any explorer going to production. The typical time is 10-15 years and ADN are looking to do it in under 4 years! That IMO should not be ignored and patience be your friend.
ALL IMO
Just keeping it real...
GLTAH
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