GREY:ADAIF - Post by User
Comment by
cub3on Jan 31, 2011 10:19pm
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Post# 18052933
RE: update
RE: updateI've sent them an email as well, though I've yet to hear back. I don't expect much of an answer to the questions I asked but I am curious how much money is required to bring the zinc mine back into production.
Four years ago the numbers for ADA were being touted from the rooftops by L Roulston and others, now here we are with zinc stocks on the LME at three to four times the levels from back then but the price is remaining substantially above the buck a pound mark which to the untrained eye - mine - appears to indicate reasonable support for this price level.
Add to that the exploration near Gays River to expand the zinc operation it seems reasonable, again to the untrained eye - to pursue this revenue stream per the original plan from a four years ago then use the proceeds to further the exploration and development of the gold fields - really how much more drilling needs to be done to get moving - I know that question has been asked by just about all of us that are awash in red ADA ink. But really.
At any rate I don't expect they would indicate either way what they are planning ,if anything to me just because I've been holding shares since the Tempest days, with the 10 to 1 roll back I don't account for much but my per unit price is now substantially higher than I would have ever paid for this play even on its best day. I've lost track of measured and indicated but I recall a 1.5MM ounce figure sticks in my head; sh1t or get off the pot also comes to mind but on ,they say, they'll go with the drilling program - and how pre tell are they gonna pay for that? I guess being one member of the 30 percent club don't buy much.