I agree that the people who participated in the earlier capital raisings at much higher prices than today wouldn't be wearing a happy smile.
We need to consider who participated in those earlier capital raisings. From memory I'm not aware a gold mining company participated.
It all comes down to value.
I also agree with you that grade is very important.
But 2g/t can be mined very profitably. There are so many factors involved in determining what can and cannot be mined profitably - eg. complexity of ore, width of intersections, depth, availability of infrastructure etc. etc...
Get the gold price moving from here, as I anticipate it will, and ADU's gold resources will look very, very attractive.
A recent report by Euroz Securities indicated ADU were worth significantly higher than current prices.
In the event of a takeover an even higher premium would be commanded.
ADU Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
