Thanks for the article.It has been a tumultuous few weeks in...

Thanks for the article.

It has been a tumultuous few weeks in Tanzania with the rumours of the late President's illness and subsequent passing. Hopefully things will return to normal now that the new President was sworn in on Friday. I suspect the uncertainty surrounding Magafuli played a part in the negative sentiment that has hit ADD recently.

Given the quotes in the article were from the former Vice President (now President) herself, one would reasonably assume her position is unchanged and the government remains extremely keen for foreign investment in Tanzania.

In addition to the uncertainty regarding the Presidency, the Nickel price appears to have weighed heavily on the ADD price in recent weeks, however, it looks to have stabilised now:



As mentioned in the CEO's interview with Samso earlier this month, he expects having some drill intercept results in by June 2021 at the latest, so i'd expect announcements about soil sampling results, EM survey results, drill targets etc. to come in the near future. This extract from the company announcement on 4 March 2021 indicates drilling starts in Q2 (quarter commencing next week):



A major shareholder (purely speculating... a former director perhaps?) appears to have been reducing their position lately and based on the large, one-off sale at the end of last Friday, hopefully that finalises that little episode. Good to see the Chairman taking advantage of this pullback in the share price with several on-market purchases during the past fortnight.

ADD looks to have been a little unfortunate with the external/macro factors affecting the share price recently, however, I am hopeful the positive sentiment will return soon given:

• The Nickel price looks to have steadied and the Battery/EV evolution has only just commenced;
• The new Tanzanian President has been sworn in and like her predecessor, is highly supportive of foreign investment to develop the country (hopefully for her and the country she stays healthy!);
• Drilling targets are being finalised and the highly prospective drilling program is expected to commence in the coming weeks.

Once ADD does commence its next leg up, I expect it will push up strongly given its small market cap (currently only approx. $12m) and multiple, highly prospective drilling targets. As always, DYOR and GLTAH.