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ADD - Adavale Resources

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August tipping competition:
I have chosen ADD because they have started exploring in Kabanga.
Kabanga project is considered one of the world's largest undeveloped high-grade nickel sulphide deposits - I have faith on their successful exploration

@Joe Blow - is this OK to enter the comp?
 
Good review Barney.
Was out of battery on both counts when posting the chart...

Good luck to @AspeaK75 in the competition. The politeness is refreshing.
 
27 AUGUST 2020
NEW BOARD TO FOCUS ON NICKEL SULPHIDE ASSETS
Highlights
• Experienced Board appointed to take the Company forward
• Work to begin immediately on the Kabanga North and North East Nickel tenements
• The Kabanga Nickel Project is in a highly prospective nickel region and
holds one of the world’s largest undeveloped high-grade nickel sulphide resources of 58Mt @ 2.62% Nickel
• New Board assessing other nickel sulphide projects within African
jurisdictions which could complement the Company’s portfolio.

SP up 50% on $0.027.
 
trying to generate some positive press:

Adavale is the 100% owner of the Kabanga Jirani nickel project in Tanzania, a collection of six granted licences spanning 1145km² in a world-class nickel district adjacent and along strike from the world’s largest undeveloped nickel sulphide resource.


Speaking to Stockhead, Adavale CEO Allan Ritchie said the development of Kabanga, a deposit of 58 million tonnes at 2.62% nickel, was a boost for the region as a whole.

The land Adavale sits on at Kabanga Jirani is far from unknown. Part of the BHP portfolio from the 1970s through to 2008, there’s been an extensive amount of work carried out by the major miner and the United Nations Development Program over the years – a substantial collection of data ADD is now able to leverage to guide its work in the region.
 
BO-HR on the weekly. Could also call it a cup and handle. Bottom of the handle puts in a HL at $0.06 then price breakouts out of HR at $0.085. Volume increase since July 2020. 13EMA > 21EMA through the correction. Nice setup.
 

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Shame I missed your post as have been noticing this a bit since it got popular this year but failed to look at it closer lately...
Looking like it might try to bump 10 cent ?

 


Just my take on ADD:-
Wave 5 formed on May 24th and price is currently forming an a-b-c wave retracing lower with support around the 8¢ mark.

Cheers,
Rob
 
Bumped 10 cent since last post and hit 0.105 finding resistance/ supply.
Tested 0.085 support again on last bar intraday also.

Will be interested to see where it goes from here with drilling started.
Not held but interested after recent volumes and SP gains.

 
Interesting prospect;

Adavale Resources Limited also holds 100% of the Lake Surprise Project being three exploration tenements covering nearly 400 km2 within part of the highly prospective sedimentary uranium province within the northern part of the Lake Frome Embayment.

Adavale Resources

... Read more
www.adavaleresources.com

 
22 June 2021

Adavale Commences Fully Funded Maiden
Drilling Ahead of Schedule

Highlights
• Drilling has commenced on Target 1

• To date, 6 high priority drill targets have been verified through modelling of geochemical and geophysical results

• 12 remaining targets are being refined for final verification and
modeling of further drill targets across the 4 licenses

• Program is fully funded to include ~3,000 metres of diamond drilling expected across ~8 targets

Adavale Resources (ASX: ADD) is pleased to announce diamond drilling is underway on the first of its high priority targets.

Adavale CEO Allan Ritchie commented: “Having the rig turning for the first time is a significant milestone for any explorer.

We now have a strong choice of targets that we’ve worked hard to refine and prioritise to ensure we get the most out of our rig as the time came. Target 1 ticked a lot of boxes from the outset so we are excited to see the forthcoming first cores.

From Company restructure, licence acquisition, through field exploration, data interpretation to commencement of drilling in the space of 10 months is a remarkable achievement.

We look forward to updating our shareholders with continuous
announcements over the coming weeks and months which we hope will include exciting intercepts”.
 
An admirable company, tick'n all boxes. Infrastructure a force...
 
Looking like another push at 10cent +
Third times a charm?
Hopefully it can push through with some momo.
Now held.

 
Had jumped off again at the 0.099 and 0.10 mark.
Today's announcement not generating too much interest yet, however this stock may see some future positioning speculation today.
A conservative 10% run sees it reaching 0.085 or a rise of 0.0077
OR, supply may just swamp it...

Will be watching today.
Not held but considering a quick dip...

EDIT
Swamped by supply!
You just never know sometimes...
 
Old habits die hard....
Decided to don the chain link gloves and put a toe in for a feel...

I have this stock in 3 watchlists, copper, nickel and uranium.?
Not sure if I have that right though.

Might be in for a long term hold here, ha!

 
The crazy GODS, Last time i looked at ADD it's falling south and fast..-19.48% and counting. Sorry to hear about it! get out of there!
 
I guess the yellow cake junkies found this one today... might have another leg in it yet...?
Not held, not interested ATM.

 
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