ADU 0.00% 71.5¢ adamus resources limited

adu - aoo

  1. 15,276 Posts.
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    For ADU followers...AOO is another with good prospects.

    I suspect that recent selling has been mainly driven by the conversion of the c/notes @ 10c per share just prior to the re-listing. There were only 7m of them issued and AOO has traded about 5.8m since re-listing. So...if not finished, I would expect the majority of the selling pressure has eased, especially given the way it bounced off 10c this week.

    Their recent $5m capital raising was at 20c (fully subscribed) so I would expect the shareprice to eventually head back in that direction.

    They already have a 647,000 ounce resource and 20,000 mtrs drilling program underway. Final results are due mid year but we can expect the odd drilling "news release" along the way.

    They also have a processing facility, so if all goes well, first gold pour is expected within only 12 months! There is also a chance that the plant might be utilised prior to this on a toll fee basis to third parties.

    The best news is that Apollo's CEO Dudley Kingsnorth (ex. Sons of Gwalia) says that they do not intend to go back to their shareholders for any more funds unless they plan to build a processing plant for a resource greater than 10 million ounces. (I hope they do!)

    I'm in at 10c and very happy!

    Do some research and see what you think.

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