ADT 2.16% $4.08 adriatic metals plc

Streetwise published an article the other day on Adriatic...

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    Streetwise published an article the other day on Adriatic Metals.  You can find the article here: https://www.streetwisereports.com/article/2018/10/25/adriatic-metals-a-polymetallic-explorer-with-significant-potential.html

    The article is wordy but very lean on modeling, instead relying on extremely conservative and lazy assumptions.  

    CriticalInvestor (who I have known for a while and with whom I have a bit of a history) and Kees Dekker estimate a h/g core of 1.58Mt within a total resource of 2Mt.

    I nearly spit out my coffee and fell out of my chair. 

    For comparison, Sprott Res Corp had estimated a h/g core of 1.5Mt as at BR-2-18.  The company has extended strike by at least 100m since then and have also laterally expanded the h/g envelop up dip.  Per SRC, the h/g core alone should be well in excess of 2Mt.

    My models show a h/g core of 2.7Mt and total resource of 4.6Mt-4.9Mt (depending on cut-off for open pit vs. underground).  The deposit is open along strike and to the N/NW.  Ultimately I expect tonnage to be in the 6-8Mt range.  We will see when the company concludes drilling and publishes the maiden resource estimate in 1H19.
    Last edited by PamplonaTrader: 28/10/18
 
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