ADT1.L
⏳ Adriatic Metals reported a slow ramp-up in their quarterly update, facing operational delays and minor issues that pause progress, like road construction and equipment adjustments.
🚧 Challenges are primarily operational and related to human resources (training local coal miners, managing expats) rather than fundamental problems with the deposit itself.
⛏️ Despite the slow start, the underlying deposit quality is confirmed, with better-than-expected gold/silver recovery and good metallurgy, maintaining long-term confidence.
@Academiadeinversion:
“Also, an announcement from Adriatic, they commented that it has been quite slow. They did the quarterly update which shows they are improving little by little but remain very slow with small things that pause everything. For example, building the road for the new tailings facility, they had to, a new jumbo arrived that they had to change some filters for, so of course, they have to keep stopping. The mining part continues very slowly, so it’s going very slow in general, and they hit it with a minus 10 that night. But anyway, it still remains above four. They have said they will announce commercial production now in Q2. Of course, that means it will likely be in June because it’s clearly taking them quite some time. But as I tell people, it’s an operational problem and more of, let’s call it, human resources and company-related, not a problem with the deposit, which is where you really need to worry. That’s when you start mining and have, for example, reconciliation problems, like the grade you’re mining is lower than expected, or the metallurgy doesn’t work, so you recover less silver than expected. Here, no, here it’s literally the opposite, there’s more gold and more silver than expected recovered. So, of course, the deposit is fine. What’s happening is a problem, like human resources, managing the team, finding people because the issue is there’s no metallic mining in Bosnia, it stopped long ago. So, they are coal miners, you have to teach them, bring a lot of expats. Of course, there are many things to manage, and that’s the issue. But overall, it’s not a problem with the deposit per se. The plant works well, metal recovery is good, payability, which is something that worries me quite a bit, is fine. So, I’m calm. I remain very calm with the position.”
Watch the exact part of the video where @Academiadeinversion talks about Adriatic Metals PLC here:
Watch the video on YouTube
Read more articles analyzing Adriatic Metals PLC (ADT1.L) at the following link. ADT1.L stock.
