RE:NorthvoltMy family and I have invested about $400,000 in ADF stock and keep buying stock at bargain prices.
I reached out to ADF Group CFO on October 21, 2024. He responed very quick to our questions and answered:
Was their a deposit paid already for the (35 Million) 300 loads ready in yard and destined for Nemaska NORTHVOLT project ? The $35M we mentioned was not for the Northvolt project. The Northvolt project is not part of our backlog (never was). Going back to our $35M delays, we do have progress payments (for this specific project as well as almost all our other projects.
Has the customer provided an new delivery date? We have, since July 31st, started delivering and installing material for this specific project. Will customer be making progress payments in near future ? See previous answer. If the project is cancelled.. does ADF have Insurance in place ? This project will not be cancelled. Should a project be cancelled, we always make sure that the contractual clauses included in the project protects ADF. If a cancellation was to happen (on any of our contracts), our incurred costs would be reimbursed + profit. If this order does not get paid for in the next 12 months,... what kind of impact will it have on bottom line? There are no payment issues. Even with the confirmed installation delays, the agreed upon payment schedule has been fully honored by our client. The delay, coming from the client, was not because of financial constraint from the client/project but strictly an operational delay, at the site, under their responsibility