To get to 1.5 million ounces, ADU drilled a total of 60,000 metres. However, they were still getting to know the geology of the area, so some holes weren't mineralised.
This year they are drilling 30,000 metres and they now have a much better understanding of the geology.
This year we should get a substantial increase in the resource size. If we could get 1.5 million ounces with 60,000 metres of drilling, we should easily get another 750,000 ounces with 30,000 metres. Possibly more, as they now have a better understanding of the geology of the deposits.
Plus they have been drilling since the 1.5 million ounces was reached.
I reckon by the end of the year, ADU will be easily up to 2.5 million ounces. This would make them takeover material for some of the bigger boys operating in Ghana.
BFS and resource upgrade due by end of quarter. Gold price rising.
A very undervalued goldy
ADU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
