Next Investors logo grey

Ardiden has further success at Seymour Lake


Published 24-NOV-2016 12:29 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

It was just over a week ago that shares in Ardiden (ASX:ADV) surged 25% in response to news regarding successful drilling results at its Seymour Lake lithium project in Ontario.

As highlighted by Finfeed at the time there was reason for further optimism given it was, and still is, relatively early in the drilling campaign and mineralisation at the 7000 hectare prospect remained open to the North and West.

The promising news continued with ADV announcing on Wednesday afternoon that numerous shallow spodumene bearing pegmatites had been logged in drill core from a further three diamond drill holes with mineralised zones up to 18 metres in width.

This drilling has extended the pegmatite zones further north at the North Aubry prospect where mineralisation remains open to the east, west and at depth.

Next Investors Image

Management has decided to extend the drill program by 500 metres to the south to test the Central Aubry prospect. If the initial phase of drilling in this region is successful the prospect will be included in the second phase resource delineation drilling program next year.

Drill results to contribute towards 2Q17 maiden resource estimate

Importantly, these drilling results will underpinned a maiden JORC 2012 mineral resource which management expects to declare in the second quarter of 2017.

Immediately after the release of today’s news the company’s shares pushed up from 2.7 cents to 2.8 cents with volumes of more than 1.6 million shares traded in a matter of minutes.

Since last week’s spike the company has traded in a tight range between 2.6 cents and 2.8 cents, but further positive results could see its shares push up towards the 3.2 cent mark that it traded at in mid-October after rallying 100% in a month.

However, historical trading patterns should not be viewed as an indication of future share price performance. ADV is an early stage exploration company and those considering an investment in this stock should seek independent financial advice.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.