Board Change • May 01
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Mena Habib is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chairman Mena Habib is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Nov 25
Great Divide Mining Ltd (ASX:GDM) executed a Share Sale and Purchase Agreement to acquire remaining 49% stake in Challenger Mines Pty Ltd. from Adelong Gold Limited (ASX:ADG) for AUD 3.4 million. Great Divide Mining Ltd (ASX:GDM) executed a Share Sale and Purchase Agreement to acquire remaining 49% stake in Challenger Mines Pty Ltd. from Adelong Gold Limited (ASX:ADG) for AUD 3.4 million on November 21, 2025. The consideration consists of 10 million common equity of Great Divide Mining Ltd to be issued for common equity of Challenger Mines Pty Ltd. As part of consideration, an undisclosed value is paid towards common equity of Challenger Mines Pty Ltd. Upon completion, Great Divide Mining Ltd will own 100% stake in Challenger Mines Pty Ltd.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders and third party approval needed. The expected completion of the transaction is in January 2026. Ankündigung • Sep 09
Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.25 million. Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • Sep 06
Adelong Gold Limited, Annual General Meeting, Nov 18, 2025 Adelong Gold Limited, Annual General Meeting, Nov 18, 2025. Board Change • Aug 18
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mena Habib is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Ankündigung • Aug 12
An undisclosed buyer completed the acquisition of an unknown minority stake in Adelong Gold Limited (ASX:ADG) from Great Pacific Gold Corp. (TSXV:GPAC) for AUD 2.06 million. An undisclosed buyer entered into a binding assignment agreement to acquire an unknown minority stake in Adelong Gold Limited (ASX:ADG) from Great Pacific Gold Corp. (TSXV:GPAC) for AUD 2.06 million on July 25, 2025. A cash consideration of AUD 2.06 million will be paid by the buyer. As part of consideration, AUD 2.06 million is paid towards common equity of Adelong Gold Limited.
An undisclosed buyer completed the acquisition of an unknown minority stake in Adelong Gold Limited (ASX:ADG) from Great Pacific Gold Corp. (TSXV:GPAC) on August 11, 2025. Ankündigung • May 08
Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 3.025 million. Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 3.025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 545,454,545
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,545,455
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • Apr 01
Adelong Gold Limited Announces Change of Company Secretary, Effective 1 April 2025 Adelong Gold Limited announced that Andrew Draffin has resigned as Company Secretary, effective 1 April 2025. The Company has appointed Adrien Wing as Company Secretary, effective 1 April 2025. Wing is a Certified Practicing Accountant. He began his professional career practising in the audit and corporate advisory division of a chartered accounting firm before moving to assist a number of public companies listed on the ASX as a corporate consultant and company secretary. Ankündigung • Feb 13
Adelong Gold Limited (ASX:ADG) agreed to acquire Exploration Licence 006430 at northern end of the Walhalla Gold Belt from Currawong Resources Pty. Ltd. for AUD 0.70 million. Adelong Gold Limited (ASX:ADG) agreed to acquire Exploration Licence 006430 at northern end of the Walhalla Gold Belt from Currawong Resources Pty. Ltd. for AUD 0.70 million on February 12, 2025. A cash consideration of AUD 0.35 million will be paid by Adelong Gold Limited. The consideration consists of common equity of Adelong Gold Limited having a value of AUD 0.35 million to be issued for assets of Exploration Licence 006430 at northern end of the Walhalla Gold Belt. As part of consideration, AUD 0.7 million is paid towards assets of Exploration Licence 006430 at northern end of the Walhalla Gold Belt. Ankündigung • Feb 12
Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.4 million. Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 95,238,095
Price\Range: AUD 0.0042
Discount Per Security: AUD 0.000252
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • Feb 07
Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.173888 million. Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.173888 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 279,497,240
Price\Range: AUD 0.0042
Discount Per Security: AUD 0.000252
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mena Habib is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Dec 31
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Chairman Mena Habib is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Ankündigung • Nov 28
Adelong Gold Limited Announces Board Changes Adelong Gold Limited announced that Ian Hastings will retire as Non-Executive Director, effective from the Annual General Meeting on 29 November 2024. Ian has played a pivotal role in the Company's history, previously serving as Chairman and remaining a major shareholder throughout his tenure. Ian was instrumental in the acquisition of the Adelong Gold Project and has provided expertise in corporate finance, securities market compliance, and regulatory oversight, drawing from his many years of experience in the finance industry. The Company welcomed Mr. Kurt Lingohr as its new Non-Executive Director. Kurt brings over 30 years of experience in business strategy, marketing, and product development, with a track record that includes two significant financial exits. A graduate of Monash University with a Bachelor of Business Systems, Kurt has built an extensive professional network through frequent participation in Australian mining investor conferences. His deep knowledge of what drives market appetite for junior exploration stocks makes him a valuable asset to Adelong Gold. Kurt has joined the Adelong Gold board to assist Chairman Mena Habib and Managing Director Ian Holland in shaping strategy, driving shareholder engagement, and creating value for the Company's shareholders. Ankündigung • Oct 29
Adelong Gold Limited, Annual General Meeting, Nov 29, 2024 Adelong Gold Limited, Annual General Meeting, Nov 29, 2024. Location: level 4, 91 willliam street, melbourne vic 3000 Australia Reported Earnings • Sep 27
Full year 2024 earnings released: AU$0.003 loss per share (vs AU$0.002 loss in FY 2023) Full year 2024 results: AU$0.003 loss per share (further deteriorated from AU$0.002 loss in FY 2023). Net loss: AU$2.26m (loss widened 191% from FY 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Ankündigung • May 03
Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024 Ankündigung • May 02
Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.14 million. Adelong Gold Limited has filed a Follow-on Equity Offering in the amount of AUD 0.14 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 35,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 19
First half 2024 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2023) First half 2024 results: AU$0.001 loss per share (in line with 1H 2023). Net loss: AU$464.3k (loss widened 17% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. New Risk • Mar 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Revenue is less than US$1m (AU$7.0k revenue, or US$4.7k). Market cap is less than US$10m (AU$3.52m market cap, or US$2.33m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). New Risk • Dec 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 53% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 1.1% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Revenue is less than US$1m (AU$7.0k revenue, or US$4.6k). Market cap is less than US$10m (AU$3.40m market cap, or US$2.24m). Ankündigung • Dec 06
Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.61 million. Adelong Gold Limited has completed a Follow-on Equity Offering in the amount of AUD 0.61 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,333,333
Price\Range: AUD 0.006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 83,333,333
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Transaction Features: Subsequent Direct Listing Ankündigung • Dec 01
Adelong Gold Limited has filed a Follow-on Equity Offering. Adelong Gold Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Ankündigung • Nov 16
Adelong Gold Limited Announces Retirement of Peter Mitchell as Managing Director, Effective 27 November 2023 Adelong Gold Limited announced that Mr. Peter Mitchell will retire from the position of Managing Director at the close of the Company's Annual General Meeting (AGM) on 27 November 2023. . Although Mr. Peter Mitchell will step down at the Company's upcoming Annual General Meeting, he has agreed to stay on in a consultant capacity to assist the Company with its plans at Adelong. Peter Mitchell has significant experience with the Adelong Gold Project and the Company is very pleased to be able to benefit from his continued assistance with the overall project. During this transition period, Mr. Ian Hastings will assume the role of Executive Chairman until a new Managing Director is appointed. Ankündigung • Nov 15
Adelong Gold Limited Announces Management Changes, Effective 27 November 2023 Adelong Gold Limited announced that Mr. Peter Mitchell will resign from the board at the close of the Company's Annual General Meeting (AGM) on 27 November 2023. Mr. Geoff Muers has been appointed as the Company's geologist with immediate responsibility for the Adelong gold project and Mr. Ian Hastings has been appointed Executive Chairman until the Company appoints a new Managing Director. Although Mr. Peter Mitchell will step down at the Company's upcoming Annual General Meeting, he has agreed to stay on in a consultant capacity to assist the Company with its plans at Adelong. Peter Mitchell has significant experience with the Adelong Gold Project and the Company is very pleased to be able to benefit from his continued assistance with the overall project. During this transition period, Mr. Ian Hastings will assume the role of Executive Chairman until a new Managing Director is appointed. Ankündigung • Oct 25
Adelong Gold Limited, Annual General Meeting, Nov 27, 2023 Adelong Gold Limited, Annual General Meeting, Nov 27, 2023, at 11:01 AUS Eastern Standard Time. Location: DW Accounting & Advisory, Level 4, 91 William Street Melbourne Victoria Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the directors, the directors' report, the Remuneration Report and the auditor's report; to consider adoption of Remuneration Report; to consider re-election of Director - Mr. John Chegwidden; to consider re-election of Director - Mr. Mena Habib; to consider ratification of prior issue of 62,500,000 Shares and 31,250,000 Options; to consider approval to issue Options to Lead Manager; to consider approval to issue Shares and Options to non-related parties; to consider approval to issue Shares and Options to Ian Hastings, Peter Mitchell, Mena Habib and Andrew Draffin; to consider approval to issue securities to Seller for Proposed Transaction; and to consider approval of 10% Placement Capacity. New Risk • Sep 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 1.1% per year over the past 5 years. Revenue is less than US$1m (AU$7.0k revenue, or US$4.5k). Market cap is less than US$10m (AU$4.17m market cap, or US$2.70m). Minor Risk Shareholders have been diluted in the past year (35% increase in shares outstanding). Reported Earnings • Sep 29
Full year 2023 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in FY 2022) Full year 2023 results: AU$0.002 loss per share (in line with FY 2022). Net loss: AU$777.5k (loss widened 7.0% from FY 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Ankündigung • Sep 24
Adelong Gold Limited (ASX:ADG) entered into a binding agreement to acquire Three applications for lithium exploration permits in Lithium Valley in Minas Gerais, in Brazil from Rafael Mottin for AUD 0.78 million. Adelong Gold Limited (ASX:ADG) entered into a binding agreement to acquire Three applications for lithium exploration permits in Lithium Valley in Minas Gerais, in Brazil from Rafael Mottin for AUD 0.78 million on September 22, 2023. Adelong Gold made an initial payment of AUD 100,000 and due diligence which has been completed. On satisfaction or waiver of the Conditions Precedent, Adelong Gold is to pay the following acquisition costs a cash payment of AUD 100,000 within 5 days; issue 20,000,000 shares to the vendor (or its nominees) within 5 days; and issue 20,000,000 unlisted options to the vendor (or its nominees) exercisable at AUD 0.02 within 2- years of completion of the acquisition. The vendor will be entitled to the following deferred consideration: If within 12 months of the acquisition, the exploration achieves 6 rock chip samples with grades >1% Li2O from at least 2 of the tenements, Adelong Gold is to issue a further AUD 100,000 worth of shares based on a 15 day volume weighted average share price (VWAP) at the time of issue; If within 5 years of the acquisition, the exploration achieves a continuous drill intercept of not less than10 metres intersection of grades exceeding1% Li2O, Adelong Gold is to issue a further AUD 150,000 worth of shares based on the 15 day VWAP at the time of issue; If within 5 years of the acquisition, on announcing a JORC compliant resource of not less than 6 million tonnes averaging in excess of 1% Li2O, Adelong Gold is to issue a further AUD 150,000 worth of shares based on the 15 day VWAP at the time of issue; and a 2% net smelter return royalty over minerals produced that are the subject of the Exploration Permits with Adelong Gold to have the right to buy-back half of the royalty for AUD 500,000.
In related transaction, Adelong Gold with oversubscribed firm commitments received to date (subject to shareholder approval) to raise up to AUD 1 million of which Directors shall contribute AUD 110,000 on the same terms (and subject also to shareholder approval). The transaction will complete within 5 days of the conditions precedent being met which include Obtaining Shareholder approval to refresh placement capacity and issue the shares and options, The granting of the tenements; Formation of a Brazilian subsidiary and obtaining all approvals to transfer the tenements to that company; and Other customary conditions precedent. GBA Capital has acted as a facilitator to the transaction and is supporting a capital raising. Ankündigung • Jul 04
Adelong Gold Limited Announces Board Changes Adelong Gold Ltd. announced it has appointed Mr. Mena Habib to its Board as a Non-Executive Director to replace Mr. Justin Ward who has resigned. Mena Habib has extensive experience in sales and marketing and is Managing Director of Power Minerals Ltd.and a non-executive Director of Equinox Resources. Mena has been a central figure in the acquisition by Power Minerals of Ultra Lithium Inc.'s subsidiaries whose Lithium projects are located at the Catamarca Province in North West Argentina, and has personally negotiated numerous agreements and understandings with Chinese based companies to accelerate several of the Argentine lithium projects. Reported Earnings • Mar 16
First half 2023 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2022) First half 2023 results: EPS: AU$0. Net loss: AU$398.7k (loss widened 7.4% from 1H 2022). Ankündigung • Feb 14
Adelong Gold Limited to Commence Planned Program of Drilling in March 2023 Adelong Gold Limited outlined the planned program of drilling scheduled to commence in March 2023 that follows up the successful program of drilling at Gibraltar to explore for additional targets and announced in January. Given the success of the recent program of drilling at Gibraltar that confirmed wide zones of mineralisation, the Company will undertake a follow up program designed to better define this mineralisation with a view to preparing a JORC Resource Estimate for the area drilled to date, and to test similar deposits along the western extension of vein systems mined in the O'Brien Workings. Gibraltar: Adelong Gold have engaged Indicator Drilling to undertake the program having successfully completed the October 2022 program and who importantly have a rig capable of accessing the Sawpit deposit for further drilling. The current drilling plan is to start with an initial 4 drill holes into this zone previously drilled in a way designed to assess the resource potential but also to test the potential at depth. Earlier analysis of the alteration products and style of mineralisation suggests this deposit could be the tip of a possible gold porphyry style deposit which could generate a major deposit. An additional drill hole is carried in reserve for deeper testing if required. Additional drilling is also planned to explore the western extensions to the O'Brien Workings that may offer similar targets to the recent discovery west of the Perkin's Workings. In April 1998 a line of drill holes tested for western extensions to these workings approximately 50 Metres west of the past workings. This drilling had identified at least 3 mineralised structures extending beyond these workings. While grades in this historical drilling had not been commercial, the strong alteration seen in these holes would suggest that mineralisation similar to that Perkin's, may also be possible west of these past drill holes. This drilling showed a wide zone of mineralisation that is interpreted to have been caused by mineralisation flooding a breccia zone created by a strong north-south shear zone intersecting the ENE trending vein system extending from the Perkin's workings. This has many of the alteration/mineralisation characteristics of the 770,000oz Hobbs Deposit located at Mt Adrah some 15km NE from this site, with hornfels alteration, strong silicification, brecciation as well as sheet quartz veins within a possible gold porphyry system. An additional 2 drill holes are planned to test the target zone. Historical drilling shows that there is also western extensions to the vein systems mined in the O'Brien Workings. Further west still there is a much larger N-S shear zone known as the Wondalga Shear located beneath the Adelong Creek some 2-300 metres west of the past workings. This offers the potential for a much larger target. Much of the historical alluvial gold production (Est. 400,000oz of gold) came from dredging the Adelong Creek downstream of the Gibraltar Mine. This target will require special approvals given its proximity to the active Adelong Creek so may not be possible to drill in this March program but is a target for drilling potentially later in the year. Currently there are no JORC Resources defined at Gibraltar and the exploration work to date indicates that potential commercial resources exist that can add to the overall project resources for the Adelong Gold Project. However the Gibraltar area also offers multiple exploration targets for expanding resources. Ankündigung • Jan 31
Adelong Gold Limited Announces Further Program of Drilling Is Planned to Commence At the Adelong Gold Project in March 2023 Adelong Gold Limited announces that a further program of drilling is planned to commence at the Adelong Gold Project in March 2023. Given the success of the recent program of drilling at Gibraltar, the Company has engaged Indicator Drilling to undertake a follow up program designed to better define the mineralisation with a view to preparing a JORC Resource Estimate for the area drilled to date, and to test .similar deposits along the western extension of vein systems mined in the O'Brien Workings. Currently there are no JORC Resources defined at Gibraltar and the exploration work to date indicates that potential commercial resources exist that can add to the overall project resources for the Adelong Gold Project. However the Gibraltar area also offers multiple exploration targets for expanding resources. Work on modelling the recent exploration results and geology is underway and is expected to be completed this week to generate drill targets for the forthcoming program. At this stage the plan is to undertake some additional drilling of the deposit discovered in the recent program, but also to test some of the western extensions to the O'Brien Workings that may offer similar targets to the recent discovery. The results announced 17 January 2023 came from drilling the western extension of the Perkin's Workings as depicted. This drilling showed a wide zone of mineralisation that is interpreted to have been caused by mineralisation flooding a breccia zone created by a strong north-south shear zone intersecting the ENE trending vein system extending from the Perkin's workings. This has many of the alteration/mineralisation characteristics of the 770,000oz Hobbs Deposit located at Mt Adrah some 15km NE from this site, with hornfels alteration, strong silicification, brecciation as well as sheet quartz veins within a granitic style intrusive. Ankündigung • Jan 23
Adelong Gold Limited announced that it has received AUD 0.25 million in funding Adelong Gold Limited announced that it has received binding commitments for an issue 10,416,667 convertible notes at a price of AUD 0.024 per convertible note for gross proceeds of AUD 250,000 on January 23, 2023. The convertible notes are convertible into common shares of the company within eighteen months. The notes will bear interest rate of 8% annually and the first interest payment date is January 23, 2024.. The notes will mature on July 23, 2024. Ankündigung • Jan 17
Adelong Gold Limited Announces Drilling Shows Potential for Major Deposits At Gibraltar Adelong Gold Limited announce significant exploration results received from the recent exploratory drilling at the Gibraltar deposit with this work confirming wide zones of mineralisation. The recent drilling program was completed in October 2022 and involved a short 541metres of reverse circulation drilling designed to better define mineralisation discovered in an earlier drill hole (3DGIB003). As reported 23rd May 2022 drill hole 3DGIB003 intersected 5 zones of gold mineralisation that collectively represented a total intersected width of 11 metres @3.45g/t Au at relatively shallow depth. The first three drill holes west of the initial discovery hole demonstrated a wide zone of silicification with numerous intersections above cut-off grade, including several high grade zones. As was noted in the initial discovery hole (3DGIB003) there is pervasive silicic alteration and associated gold mineralisation over wide zones which in places exceeded widths of 50 metres but containing within this zone many higher grade zones. These recent results confirm the discovery of a zone of shallow potentially open cuttable mineralisation. Furthermore, drill hole 3DGIB007 shows the zone of mineralisation is wider and grades improve with a total of 12 metres of higher grade intersections with cumulative weighted average grade of 6.43g/t Au. Given the success of this drilling, work can now start on bringing this deposit into the company's resource inventory for the Adelong Gold Project. The results show that in the first 90 metres of Drill Hole 3DGIB007 there was 65 metres having grades over 0.1g/tAu and all samples had gold values above detection which shows that the entire 90m has some degree of mineralisation. This is highlighting the potential for larger scale mineralised structures at Gibraltar that warrant further investigation. Furthermore, the Percy Shaft Workings showed that some of the better grades were mined at depth so a further program of drilling to explore the deeper extensions of this zone could generate additional significant deposits. Further west of the initial three drill holes, the drilling of hole 3DGIB010 showed the geology had changed and a series of shallow drill holes were drilled both North and south in an attempt to locate the western extension with further exploration required. Background: The Gibraltar Mine has historical production of around 140,000oz of gold. The main production came from a single reef that was mined through the O'Briens Shaft and represented a vein that was mined to around 366m depth. The vein had a strike of 40 0-600 N and dipping Southeast at around 700-800. To the west of the O'Brien Shaft is the Perkin's Workings and the historical descriptions show the character of the mineralisation changed and 5 ‘reefs’ which were apparently worked but the Geological Survey of NSW records (Harper 1916) reported ‘makes of mineral-bearing quartz granitic rock, the latter being replaced by secondary silica and sulphides, iron and zinc. In places a network of quartz veins occurs associated with partly replaced granitic rock impregnated with sulphides, the whole being auriferous’. Further records from 1938 on the Perkin's Workings stated that ‘recent work had intersected a lode (Whalans) which is 6.1 metres wide that had been driven on for 18.3 metres averaging say 6g/tAu. In proximity to this there are other large orebodies untested’. These descriptions highlighted the potential of the Perkin's area to generate wider zones of mineralisation that would have been largely sub-economic for the old timers which had historically mined the Gibraltar Mine at an average grade of 35g/tAu. However, the exact location of these mineralised zones reported in these records was unclear and was the basis of the Company's exploration. In April 2022 the company initiated exploration drilling around the Gibraltar mine which included 3 drill holes into and around the Perkin's Workings. The two drill holes east of the Perkin's Shaft did report some silicification but only one commercial grade intersection. However, the drill hole 3DGIB003 located 60m west of the Perkin's shaft intersected 5 zones of gold mineralisation grading in excess of 1g/t Au at very shallow depths: · 1m @3.36g/t Au from 2 metres · 5m@ 3.8g/t Au from 13 metres · 3m @ 1.96g/t Au from 25 metres · 1m @ 4.18g/t Au from 38 metres and · 1m @ 5.36g/t Au from 47 metres This drilling was followed up in October 2022 with another program and Drill Hole 3DGIB007 was the hole drilled to look at the western extension to the mineralised zone located in the April 2022 program. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director John Chegwidden was the last independent director to join the board, commencing their role in 2006. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
Full year 2022 earnings released: EPS: AU$0 (vs AU$0 in FY 2021) Full year 2022 results: EPS: AU$0 (in line with FY 2021). Net loss: AU$726.9k (loss widened 4.9% from FY 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 08
Insider recently bought AU$126k worth of stock On the 3rd of June, Peter Proksa bought around 42m shares on-market at roughly AU$0.003 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director John Chegwidden was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 18
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0 (vs AU$0 in 1H 2021). Net loss: AU$371.3k (loss widened 16% from 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 18
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: AU$0 (vs AU$0 in 1H 2021). Net loss: AU$371.3k (loss widened 16% from 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 24
Insider recently bought AU$132k worth of stock On the 23rd of February, Peter Proksa bought around 27m shares on-market at roughly AU$0.005 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Oct 01
Full year earnings released - AU$0.0004 loss per share Over the last 12 months the company has reported total losses of AU$601.5k, with losses narrowing by 35% from the prior year. 
