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Interesting write-up about Adriatic Metals:
hxxps://moram.eu/adriatic-metals/
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221030:nASX54CcgK
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=adt1.L
The Vares Project 2021 Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% post-tax IRR and a capex of US$168 million. Adriatic is the only publicly listed mining company in Bosnia and Herzegovina and is leveraging its first-mover advantage. The company is well-funded and concurrent with advancing the construction of the Vares Silver Project, continues to explore across its large, highly prospective 41km2 concession package.
https://www.proactiveinvestors.co.uk/LON:ADT1/Adriatic-Metals-PLC
Adriatic Metals PLC - exploration and development company with key projects in Bosnia & Herzegovina and Serbia - Says the Vares silver project in Bosnia & Herzegovina remains on schedule with the first concentrate production planned for the third quarter of 2023. Says half of the total project construction is now complete. As at November 21, completes 277 metres of Lower Decline and 177 metres of Upper Decline.
Expects final project cost estimate to remain unchanged at USD173 million. Estimated cash balance stands at USD44.4 million as at November 25. Says it retains sufficient working capital reserves and contingency of USD10 million.
Chief Executive Officer Paul Cronin says: "I am pleased to report that the Vares Project remains on schedule and on budget with first concentrate production planned for Q3 2023. Today the project passed a significant milestone with 50% of project construction now complete. In addition, with 76% of the total construction capital committed, we will continue to address any remaining inflationary and budget concerns."
I am pleased to report that the Vares Project remains on schedule and on budget with first concentrate production planned for Q3 2023. Today the Project passed a significant milestone with 50% of project construction now complete. In addition, with 76% of the total construction capital committed, we will continue to address any remaining inflationary and budget concerns.
"In addition to the successful Project development, we are also approaching completion of the year-long confirmation and definition drilling programme at Rupice with exploration drills continuing to step-out along the Rupice Northwest extension. Both programmes are anticipated to increase the life of mine, as all holes have intercepted mineable thicknesses of massive and semi-massive sulphides.
"Our aim is to build a company - and not just a project. We are focusing Adriatic's zero-harm philosophy, prioritising the health and safety of our employees, contractors and host communities. There has been an introduction of new standards, systems and processes, with a particular focus on contractor management.
50% of total Project construction complete.
• Decline development is progressing as planned, with the lower decline currently at 277m and upper decline at 177m at 21 November.
• All long lead items ordered and equipment delivery is expected on schedule, with first concentrate production anticipated in Q3 2023.
• Construction of 24.5km Haul Road is well underway and on track for completion by Q3 2023.
• Exploration and infill drilling (88% complete) at Rupice continues, with results feeding into the planned Mineral Resource Estimate update in Q1 2023.
• Staff headcount increased to 183; contractor headcount totalling 222.
issued today
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=adt1.L
some good size buy trades @ 160p today
my graph says 175p by month-end
IMO
from 225p to 235p
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=adt1.L
up 8% 152p
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=adt1.L
Great corporate video, showing how professionally this project is progressing. If it wasn't for the regional Russian problems I think this share would be starting to realise its value.
Happy to be holding this one.
Quietly and efficiently taking care of business. Will be producing in less than a yr. Another great RNS with minimal cost/time slips.
I come here to meditate..... even the company RNSs are calm and measured
https://www.proactiveinvestors.co.uk/companies/news/994768/adriatic-metals-says-vares-silver-project-in-bosnia-herzegovina-45-complete-994768.html
a very busy board,this.lol.