Word has it Hamish has been working up his own project (Burkena Faso?) outside Adamus in prep for his exit. Would have been nice if he added projects to the company paying his salary and allowing him to runaround Africa instead of feathering his own nest. Infact, would have been nice if he paid more attention to Adamus and the BFS full stop, then the share price might not be wallowing!
I also wonder if recent share price action does not reflect a poor BFS result? When the bottom line isn't pretty (capex and op costs blow out) standard practice is to get the engines to go back and run it again and again until a better number comes out. That would explain both the continual delays and share price weakness.
I am a believer on FA that this company looks value but the TA looks terrible in the face of a strongly rising gold price since Xmas. A break of 60c will see this thing down to 50C. Something smells and maybe it's more than Hamish bailing short before the BFS delivery he has been responsible for over 3 years!
Time will tell... good luck.
ADU Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
