ADD - Adavale Resources

[frugal.rock]

Just thinking out aloud here, but...
I feel this one is getting a bit interesting and probably worth a closer look?
Not held.

 

[frugal.rock]

Chart update.

 

[frugal.rock]

Quarterly Activities Report
June 2023

NICKEL EXPLORATION

• Drilling recommenced during the quarter, with massive nickel
sulphides intersected at Luhuma Central
• Luhuma Central is a new Prospecting Licence, PL12350/2023 awarded to Adavale during the quarter. Drilling commenced within two weeks of being awarded, intersecting massive nickel sulphides
• Second drill rig contracted, with second rig drilling high-priority
targets of HEM 2
• A follow up wet season soil geochemical program and Audio-
MagnetoTellurics (AMT) program refined drill targets ahead of
the resumption of drilling
• Geochemical soil survey identified a coherent 15km copper-in-soil anomaly that coincides with magnetics and gravity anomalies

CORPORATE
• Post quarter, the Company successfully received binding
commitments from sophisticated and professional investors to raise $2.47m at a price of $0.019 per share with 1 for 1 free attaching listed options
• The Company also launched a 1 for 5 Entitlement Offer at the same terms as the Placement to raise circa $2.1m

Might get a rise later in the month after funds raised ?
Might dip a bit more first though.
Not held.

 

[frugal.rock]

Surprised this is where it's at share price wise, with talk of Uranium ?

ASX Announcement
5 December 2023

Key Uranium Licence in South Australia Granted

• Adavale granted Exploration Licence EL6957 in South Australia
• Licence area encompasses 591km2
• High-resolution satellite imagery, gravity and EM survey data
highlights palaeochannels prospective for Uranium exploration
• High priority uranium targets can be progressed over the
Company’s large scale licence holdings totalling 1,669km2


Adavale’s Executive Director, David Riekie commented:

“This new licence significantly expands our ground holding in a highly prospective Uranium province.
A thorough interrogation of the comprehensive. publicly accessible dataset available, has assisted Adavale to identify interpreted palaeochannel systems and refine priority targets within its tenure.
The outwash and paleochannel systems shedding from the Flinders Ranges appear to be the most prospective for uranium.
On this basis, Adavale is confident to progress its exploration plans.”

Oooh, confidence.

I've dipped a pinky toe in, as they usually grow back if chopped off...

 

[barney]

Tough for the ADD boys of late @frugal.rock . They will need to see the Bank Manager again not too far down the track so any positive announcements will be both welcome, and on the cards

Not sure if putting Kamala Harris photo in their Noosa Mining Investor Conference announcement was a positive or a negative though, lol.

 

[frugal.rock]

Attention
Deficit
Disorder

 

[Dona Ferentes]

and lacking that all-essential hyperactivity?

 

[barney]

and lacking that all-essential hyperactivity?

Above that magical .011 may change that perception perhaps DF ?? It could represent the long-awaited change of sentiment?!

 

[frugal.rock]

Above that magical .011 may change that perception perhaps DF ?? It could represent the long-awaited change of sentiment?!

Not sure about sentiment, it's probably more about discovery of the stock, being a speccy an all?
"There was movement at the station, for word had passed around..."