ADT - Adriatic Metals

[System]

Adriatic Metals is a UK based company that is focused on exploring and developing its 100% owned zinc polymetallic projects in Bosnia & Herzegovina, through the Company's wholly owned subsidiary, Eastern Mining d.o.o Sarajevo. Eastern Mining is the holder of an exploration concession that covers the Company's two main projects, Veovaca and Rupice.

Veovaca is an historic open cut zinc/lead/barite and silver mine and the nearby Rupice deposit is an advanced exploration project which exhibits exceptionally high grades of base and precious metals. The Company has also assessed numerous regional prospects (which have been subject to varying levels of historical exploration activity) as targets for future exploration.

It is anticipated that ADT will list on the ASX on 30 April 2018.

http://www.adriaticmetals.com

 

[greggles]

Newcomer to the ASX, Adriatic Metals, has seen a bit of a lift in its share price today after trading sideways since it listed on 1 May.

The first drill hole of the company's 2018 drilling campaign at its Vareš Project in Bosnia & Herzegovina has intersected thick, high grade mineralisation, confirming the consistency of the previously drilled, high
-grade northern zone. The drill hole, BR-2-18, returned 64m @ 4.6g/t Au, 537g/t Ag, 0.9% Cu, 7.7% Pb, 10.8% Zn, 46% BaSO4.

The announcement saw a nice spike in both volume and share price, with more than six million shares traded and a gain of 20.51% to 23.5c so far today.

 

[greggles]

I didn't get on board, but I should have. Up she goes, currently trading at 38.5c and a 100% share price gain in four trading sessions.

Take a look at the Investor Presentation released on 12 June if you're interested in knowing more about ADT.

 

[greggles]

More good news for Adriatic Metals today. New drilling results have returned further high grade and thick intercepts north of the current zone of mineralisation, extending the high-grade northern zone at Rupice.

The last couple of weeks has seen its share price soar from sub-20c to a high of 50c achieved yesterday. Buying pressure is absorbing the selling from profit takers as the good news from Rupice continues to roll in.

 

[greggles]

Another nice move up today from ADT. No news since 22 June, just persistent buying pressure and a lack of sellers.

Currently trading at 56c, up 13.13% today with an intraday high of 58c.

 

[greggles]

After consolidating between 40c and 55c for the last few months, Adriatic Metals has finally broken through resistance at 60c today. The catalyst was this morning's announcement that two further drill holes from the current drilling programme at Rupice have both intercepted thick zones of high-grade mineralisation.

The details are:

After reaching an intraday high of 69c, ADT is currently trading at 62c, up 15.89% from yesterday's close. The Rupice project is certainly delivering the goods and given the outstanding drilling results to date, it is likely that there are more to come. My feeling is that where there's smoke there's fire and with more drilling results due in the coming months I'm predicting further share price gains.

 

[barney]

Adriatic Metals has finally broken through resistance at 60c today. The catalyst was this morning's announcement that two further drill holes from the current drilling programme at Rupice have both intercepted thick zones of high-grade mineralisation.

I'm predicting further share price gains.

That is a seriously thick intercept of good mineralisation …… The Chart reflects the potential …. I see you have been following this one for a while Greg … another excellent call

 

[greggles]

That is a seriously thick intercept of good mineralisation …… The Chart reflects the potential …. I see you have been following this one for a while Greg … another excellent call

Thanks barney. ADT has been going from strength to strength since listing around six months ago and I don't think we've seen the end of it yet. The drilling results have been very impressive so far. I suspect the Rupice project may be a real winner for them. Time will tell of course, but I've got a feeling about this one.

 

[tech/a]

Right now it’s going to come off
High volume well off the high of the day
Inside day tomorrow you should be looking
for seriously low volume for a bullish future
On any correction.

 

[samso]

Hi, I just wrote a blog about the company. I have been intrigued by the high grade since the first announcement. What prompted me to do the research was the last release by the Adriatic Metals. That was a great result and coupled with the capital raise, I think the company is on a good thing.

 

[tinhat]

Obviously gold and junior explorers are hot on the ASX right now. ADT are sitting on a potential tier one gold/silver and lots of other stuff resource in Bosnia Herzegovina and they are merging with a gold explorer with a resource in next door Serbia. It's a porphyry mineralisation which I am told means that although the grades are high the metallurgy makes it complex (pricy?) to exploit.

They are dual listed on the LSE and ASX. Sandfire have a 15% holding. Sandfire withdrew their independent director recently. Often this is a precursor to a take-over offer. I can't see how Sandfire can lob a takeover offer at ADT that would not involve substantial debt to SFR or which would interest ADT shareholders.

Yesterday Sandfire released an ASX announcement that it had drawn up a new incentive plan for management. Lots of talk of incentives for achieving "transformative" and "expansive" goals. Snouts lining up at the trough?

Anyway, I reckon that if any explorer has the potential for substantial moves up this might be one especially if the merger and acquisition talk heats up.

You've got to love the chart. It looks like it might be primed for a breakout.

 

[tinhat]

Hi, I just wrote a blog about the company. I have been intrigued by the high grade since the first announcement. What prompted me to do the research was the last release by the Adriatic Metals. That was a great result and coupled with the capital raise, I think the company is on a good thing.

[edit - I just realised that Samso's post is a year old - oops!]

Hi Samso

I'll go and check out your blog post now. Can I just give one piece of constructive feedback first. I've watched a few of your coffee with samso videos and I get the idea of a laidback chat with CEOs, but for an old fart whose hearing is not so great anymore, they can be hard to listen too with all the background noise in those cafes you go to. I also wonder whether they are the best setting for the interviewee. I watched one you did with Easterway of Hot Chile a few weeks ago (the second one I've seen you do with him) and I felt that even he was a bit distracted by the background noise. I do like your laid back conversational style.

 

[tinhat]

In my earlier post (two up) I said the deposits were Porphyry but I believe I was wrong. I'm going through the company presentation from a few weeks ago and it states the deposit (Rupice anyway) is massive sulphide. I think I got confused when I heard the CEO give an interview and he talked of the challenge of the metallurgy of a "polymetalic" deposit; ie, their plan involves producing zinc, lead, silver, gold and copper ore.

 

[PetEarwig]

Hi all, this was an update released today about the approvals for both Veovaca and Rupice to continue moving ahead. I must say, I have no mining background and I know some industries have terminology that is specific to that industry. But, the headline on the release I initially thought must be an error and maybe they meant exploration? But after reading the release, it is accurate, continuing to use the word 'exploitation'. While maybe accurate, it sits oddly with me. Anyway, it seems that things are on track and Q2 and Q3 will see construction moving ahead on plants at both locations. Craig

ADRIATIC METALS RECEIVES EXPLOITATION PERMIT FOR VEOVACA

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) ("Adriatic" or the "Company") is pleased to announce that it has received the Veovaca Exploitation Permit from the Federal Ministry for Energy, Mining and Industry (“FMERI”). The receipt of the Permit initiates the formal exploitation period for the project, which under the terms of the Concession Agreement is up to 30 years. As the Concession Agreement covers both Veovaca and Rupice the security of tenure applies to both the Veovaca open pit and plant areas, as well as the Rupice underground mine areas. The receipt of this Permit also enables Adriatic to complete the Main Mining Project for the Veovaca open pit mine, flotation plant, and tailings management facility at a detailed engineering level for the start of construction in Q3 2021. The Exploitation Permit required before the commencement of underground development at Rupice is expected in Q2 2021, and will be applied for following the issue of the Environmental & Urban Planning Permits for Rupice, in a process similar to what has recently been completed for Veovaca.

Paul Cronin, Adriatic’s Managing Director and CEO commented, “This is a major permitting achievement that has been realised through close cooperation between Adriatic’s BiH team and the significant number of governmental and commercial stakeholders involved in the process, as well as the local community in Vares. The team have worked tirelessly to compile all the required information for these submissions under difficult circumstances. Their dedication to the project and creating shareholder value is unquestionable. I would like to thank the various Ministries involved in the review of all the individual permit applications that have culminated in this significant milestone, for the company, and the BiH mining industry. We look forward to continuing our productive and cooperative relationships with the community and government as we advance the Vares project to production.“

 

[wabullfrog]

Not sure if it's a delayed reaction to the news of last week or something else at play but this has had a decent bounce this morning.

Edit: Doh! It's a Silver play

 

[wabullfrog]

Couple of bits of news recently.

Firstly they have received UPP for the Rupice deposit which is an important step required to get the Exploitation Permit.

https://www.investi.com.au/api/announcements/adt/3e6461fa-73f.pdf

Next they have received permission to explore an expanded area of the Vares Project, previously 9km² now 41km²

https://www.investi.com.au/api/announcements/adt/a5ce59d4-10a.pdf

 

[jamezo10]

The final pick of mine for this year. I’ve been with Adriatic metals for a while now and believe this is the year they will take off, or indeed taken over. The only issue I have is the political tensions over in Bosnia, but apart from that everything seems to be growing strength to strength and should start to see the SP increase throughout the year. The various metals, low shares on issue and giving back to the community are all ticks for me and I’m glad to be invested.

 

[mullokintyre]

ADT, one of my poorer choices of stocks fro investing/trading has announced an offtake agreement to process its silver concentrate for the next two years.
Stock down today, so market seems to think ho-hum, big deal.
For once I agree with the market.
Mick

 

[mullokintyre]

ADT quarterly out.
Still on track to start silver production in q2 2023.
They say despite all the inflationary cost pressures, they are still on budget.
Down like almost everyone else today.
A lot can happen to a project in 12 months.
Mick

 

[mullokintyre]

Latest media statement says things still on track.
Still holding, may buy more if price stays low as we get closer to project completion.
Mick