Nickel Sulfide in Tanzania: Adavale Resources Limited (ASX:ADD)
Rooster Talk Episode 39 is with Allan Ritchie, Chief Executive Officer - Adavale Resources Limited (ASX: ADD)
The Truth Machine is one month away.
In this episode of Rooster Talk, Allan Ritchie reiterates the commitment by management to ensure a methodical approach to exploration in Tanzania. The drilling program is still on schedule to start in June.
A unique aspect of management in Adavale Resources is that they are being paid in shares. I like this as it aligns everyone with the shareholders.
00:38 Update from Allan Ritchie
04:54 Management Quality
08:54 Why Tanzania is a good place to be now.
13:06 New Flow
The ongoing field exploration in Tanzania has highlighted some interesting results within the target areas. The continuing geophysical interpretation is preparing the company for fifteen targets that will be of interest when drilling commences.
We will deliver drilling in June and imminent results will give shareholders some joy for their patience.
Download this eBook
This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides).
About Allan Ritchie - Chief Executive Officer
Adavale Resources Limited (ASX: ADD)
Allan graduated from the University of Technology in Sydney in 1986 with a Bachelor of Business and subsequently attained a post graduate Diploma in Applied Finance from the Financial Services Institute of Australia.
Allan’s distinguished career spans 30 years in both the energy and resources sectors, in investment banking and leadership roles in both private and publicly listed companies.
Allan currently serves as Non-Executive Director of ASX listed Hydrocarbon Dynamics Limited (HCD:ASX) and has previously served as Executive Director and Deputy CEO of HK Listed energy group EPI Holdings Limited (0689.HKEX).
Allan’s investment banking background includes structuring commercial transactions in the energy and resources sector. Senior roles include positions within Westpac, ANZ Bank, HSBC and BNP Paribas in Australia, London, New York and Asia Pacific.
Allan’s career achievements have been recognised several times in BRW’s annual poll of bankers.
About Adavale Resources Limited (ASX: ADD)
Adavale Resources Limited (ADD) holds 100% of the Kabanga Jirani Nickel Project (“the Project”) consisting of six granted licences and one application covering nearly 1145km2. These licences are adjacent and along strike from the world’s largest undeveloped nickel sulphide resource, namely The Kabanga Deposit which contains a measured, indicated and inferred resource of 58Mt @ 2.62% Ni (Barrick and Glencore, 2014).
The ADD licences are located along a trend of mafic/ultramafic intrusions known as the Kabanga Musongati belt and contain Nickel Sulphide ores and PGE concentrations.
Adavale Resources Limited also holds 100% of the Lake Surprise Project with three exploration tenements covering nearly 396 km2 within part of the highly prospective sedimentary uranium province within the northern part of the Lake Frome Embayment.
These tenements lie within a flat, semi-arid landscape located just to the north of the Flinders Range in South Australia. These include EL 5892 comprising 92km2 , EL 5893 comprising 167km2 and EL 5644 of 137km2. These are known as the:
Canegrass Swamp Prospect
The Lake Surprise Project Area is located in South Australia, 550km north of Adelaide, and 70km East of Marree. The company holds 3 tenements, EL5892, EL5893, and EL5644 with a total area of 396 km2. Adavale explored the original tenements in this area between 2007 and 2011 with 486 holes drilled in that period.
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