Don't forget about the placement at 45c made to Canadian based gold miner Dundee Precious Metals in June this year.
Dundee Resources now hold 6% of ADU.
Dundee Resources would not have forked out $3 million for the placement without first doing their due diligence. Nor just for fun to be a minority shareholder.
If an investment in ADU at 45c is good enough for Dundee Resources, with I suspect a full takeover in mind, I'm surprised how few here are also taking advantage and getting set in ADU at these bargain prices.
ADU is moving ahead nicely to its target of 1.5 million to 1.7 million ounces of gold at Southern Ashanti. MD Hamish Halliday said ADU is progressing the footwall zone and believes there is at least a 1000 metres extension to the south of that zone.
Drilling resumed in October.
ADU Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
