We have another Ian on the ADG board. 'Dynamic Duo'...or...'Double the Trouble'?
In the context of Ian Holland at the Fosterville Gold mine (years ago) the announcement mentions "low-cost, high-margin production"
However, in the context of Ian Holland recently from Navarre Minerals (which Ian Hastings has selectively omitted from the latest announcement) it's clearly the exact opposite (i.e. high-cost, low-margin production). All-In-Sustaining Costs per oz were looking unsustainably high at Navarre Minerals (Sep'22 qrt @ $3,539/oz, Dec'22 qtr @ $2,222/oz, Mar'23 qtr $3,078/oz).
Only time will tell whether or not the new Ian will accelerate (or decelerate) ADG's progress towards gold production at Adelong...or administration. There hasn't been any share price fireworks with the latest announcement.
ADG need truckloads of cash (and plenty of it).
We have another Ian on the ADG board. 'Dynamic...
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| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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