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Adavale ResourcesASX:ADD

Explorer, with a project stated to be in New South Wales.

New South Wales · Australia — as stated on the recordings

explorer New South Wales, Australia
Dec 2025Covered
9 of 10Topics on record
2 executivesNamed on the record
Stage
Explorer
Jurisdiction
New South Wales
Latest appearance
10 Dec 2025
On record
1 interview · 35 statements · 2 executives

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
116,000 ounces
Management-stated David Ward Dec 2025
Capital needed
Phase two program about the same price as phase one
Management-stated David Ward Dec 2025
What happens next
phase one drilling completed, phase two drilling underway
Management-stated Allan Ritchie Dec 2025
The main open question
The deposit remains early-stage exploration with no demonstrated economics or mine plan; 107,000–116,000 ounces is a small resource by junior standards.
Weighed from the statements below, not our opinion of the company.
Our reading

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Adavale Resources's own claims across 1 interview — most-covered theme first.

What outside voices pick up on

No independent commentary on record yet — so far the page carries only the company's own voice.

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the team has executed quickly on a small-cap junior play: maiden JORC of 116,000 ounces defined in nine months on a former BHP gold mine in the prolific Lachlan Fold Belt, with phase one drilling completed and phase two…

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

Management says the team has executed quickly on a small-cap junior play: maiden JORC of 116,000 ounces defined in nine months on a former BHP gold mine in the prolific Lachlan Fold Belt, with phase one drilling completed and phase two underway at modest cost ($350k phase one, similar for phase two). Directors and a 20% cornerstone holder have skin in the game via on-market share purchases.

▼ Bear case

The deposit remains early-stage exploration with no demonstrated economics or mine plan; 107,000–116,000 ounces is a small resource by junior standards.

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

The deposit remains early-stage exploration with no demonstrated economics or mine plan; 107,000–116,000 ounces is a small resource by junior standards. No independent validation, no financing track record beyond a $900k all-script deal, and no outside commentary. The team's experience is in geology and banking, not mine development—technical and permitting risks on a brownfields site are unstated.

◆ Watch next

Phase two drilling results and any updated resource estimate; permitting progress on the London Victoria brownfields site; evidence of engagement from "big players" mentioned in Lachlan Fold Belt (Inflection, AngloGold) as earn-in or…

What it rests on
Evidence: 2 moments from 1 interview
Read the full case

Phase two drilling results and any updated resource estimate; permitting progress on the London Victoria brownfields site; evidence of engagement from "big players" mentioned in Lachlan Fold Belt (Inflection, AngloGold) as earn-in or acquisition interest; capital raise plans and path to mine development decision.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 15 statements

The deposit 9

Key takeaway. Management describes the deposit as a gold and copper project with epithermal dome opportunities.

Read the full summary

The company reports a maiden resource of 116,000 ounces, and notes they chose to highlight 107,000 ounces at a higher cutoff grade. Beyond the current resource, management says they hold five greenfield exploration licenses for gold and copper, where they hope to "find a nice discovery hole or two," and also point to London Victoria, a former BHP gold mine, as a brownfields small-scale mining opportunity.

What was actually said
deposit type
London Victoria is former BHP gold mine, brownfields future small scale mining opportunity
“One of which is a brown fields future smallcale mining opportunity uh known as London Victoria and it's a former BHP gold mine.”
David Ward· 10 Dec 2025·
deposit type
Five greenfield exploration licenses with gold and copper focus
“the other five tenementss are our green field uh exploration licenses”
David Ward· 10 Dec 2025·
deposit type
epiothermal dome opportunities
“we've got two methods to do that with our brown fields future smallcale mining opportunity on on one hood or I like to say we row with two ores. So with one ore, we have our brownfields future small scale mining and with our other ore, you know, we have the green fields opportunity where we hope to find a nice discovery or or two or three. uh and it is poor free country with uh epiothermal dome opportunities.”
Allan Ritchie· 10 Dec 2025·
Show the other 6 statements
deposit type
gold and copper
“It's a gold pro gold and copper project in parks.”
Allan Ritchie· 10 Dec 2025·
deposit type
gold and copper project
“It's a gold pro gold and copper project in parks.”
David Ward· 10 Dec 2025·
exploration upside
green field uh exploration licenses where we hope to like many juniors find a nice discovery hole or two
“green field uh exploration licenses where we hope to like many juniors find a nice discovery hole or two”
Allan Ritchie· 10 Dec 2025·
resource size
116,000 ounces
“within months we developed a maiden jaw um of 116,000 ounces.”
David Ward· 10 Dec 2025·
resource size
107,000 ounces with a higher cutoff grade
“We choose 107,000 ounces with a higher cutoff grade”
David Ward· 10 Dec 2025·
resource size
maiden jaw um of 116,000 ounces. We choose 107,000 ounces with a higher cutoff grade
“within months we developed a maiden jaw um of 116,000 ounces. We choose 107,000 ounces with a higher cutoff grade”
Allan Ritchie· 10 Dec 2025·

Jurisdiction 2

Key takeaway. Management noted that the company's operations are located in the state of New South Wales, Australia (December 2025).

What was actually said
country
Australia
“listed on the ASX uh with the ticker code AD”
David Ward· 10 Dec 2025·
region
New South Wales
“I'm a geologist very strong focus in uh in New South Wales.”
David Ward· 10 Dec 2025·

Technical risk 4

Key takeaway. Management says the key technical assumption underpinning its approach is a tele viewer method, which it expects to maximise learnings from each drill hole (December 2025).

Read the full summary

The company also assumes potential drilling targets exist at 200-metre depths and that epithermal dome opportunities lie in a poor-free country, though it does not specify what technical risks might invalidate those assumptions.

What was actually said
key assumption
tele viewer approach to maximize learnings from each hole
“with some modern technology...He'll tell you a bit about our tele viewer approach. It it's a very impressive tool to maximize the learnings from each hole.”
David Ward· 10 Dec 2025·
key assumption
200 meter depths potential drilling target
“we're finding at 200 meter depths might be where we go.”
David Ward· 10 Dec 2025·
key assumption
epithermal dome opportunities in poor-free country
“it is poor free country with uh epiothermal dome opportunities.”
David Ward· 10 Dec 2025·
Show the other 1 statement
key assumption
tele viewer approach
“with some modern technology and I won't steal David's uh thunder on that. He'll tell you a bit about our tele viewer approach.”
Allan Ritchie· 10 Dec 2025·

Economics 5 statements

Economics 4

Key takeaway. Management of Adavale Resources says its initial phase one exploration program cost about $350,000 and included nearly 14 holes all-in, and that the planned phase two program is expected to be about the same price.

Read the full summary

The company reports both figures in reference to December 2025 plans.

What was actually said
capex
Phase two program about the same price as phase one
“Our second phase program is going to be about the same price that we're in right now.”
David Ward· 10 Dec 2025·
capex
second phase program is going to be about the same price
“Our second phase program is going to be about the same price that we're in right now.”
Allan Ritchie· 10 Dec 2025·
capex
first uh phase was about a 350,000 dollar program
“the type type of program we have here um you know our first first uh phase was about a 350,000 dollar program”
Allan Ritchie· 10 Dec 2025·
Show the other 1 statement
capex
Phase one program about 350,000 dollars with nearly 14 holes all-in
“our first first uh phase was about a 350,000 dollar program you know getting yeah nearly 14 holes uh done and that's an all-in cost too.”
David Ward· 10 Dec 2025·

Financing 1

What was actually said
capital needed
$900,000 all script deal
“We did it for a an excellent price. Um it was $900,000 all script deal.”
David Ward· 10 Dec 2025·

Timeline 4 statements

Timeline 4

Key takeaway. Adavale Resources management reports that the company acquired the project about nine months ago, as of December 2025.

Read the full summary

According to management, phase one drilling has been completed and phase two drilling is now underway as of that same date.

What was actually said
milestone
phase one drilling completed, phase two drilling underway
“We've done our phase one drilling, we're now doing phase two drilling, you know, all in nine months.”
Allan Ritchie· 10 Dec 2025·
milestone
acquired about 9 months ago
“we're a junior explorer. Um we're focused on uh a project we acquired about 9 months ago”
David Ward· 10 Dec 2025·
milestone
Phase one drilling completed, phase two drilling underway
“We've done our phase one drilling, we're now doing phase two drilling”
David Ward· 10 Dec 2025·
Show the other 1 statement
milestone
nine months ago acquired the project
“we're a junior explorer. Um we're focused on uh a project we acquired about 9 months ago”
Allan Ritchie· 10 Dec 2025·

Corporate 11 statements

Management 6

Key takeaway. Management of Adavale Resources points to a team with relevant experience: David Ward worked for the former operator of the London Victoria mine and has experience in the Lachlan Fold Belt, while Alan Richie is an investment banker…

Read the full summary

specializing in energy and resources for nearly three decades (Dec 2025). The company also notes its directors take shares only as part of their directorship package, and reports that it completed a maiden JORC resource of 116,000 ounces and phase one drilling within 9 months (Dec 2025).

What was actually said
insider ownership
directors take shares only as directorship package
“most of us take uh our as our directorship package is in shares only”
Allan Ritchie· 10 Dec 2025·
team experience
David Ward worked for former operator of London Victoria mine and has experience in Lachlan Fold Belt
“I actually worked for the company that was the last operator of the London Victoria mine”
David Ward· 10 Dec 2025·
team experience
Alan Richie investment banker specializing in energy and resources for nearly three decades
“my background is as an investment banker. I was a energy and resources specialist for nearly three decades.”
David Ward· 10 Dec 2025·
Show the other 3 statements
track record
maiden JORC of 116,000 ounces and phase one drilling completed within 9 months
“within months we developed a maiden jaw um of 116,000 ounces...since then we've you know moved quickly...We've done our phase one drilling, we're now doing phase two drilling, you know, all in nine months.”
David Ward· 10 Dec 2025·
track record
investment banker, energy and resources specialist for nearly three decades
“my background is as an investment banker. I was a energy and resources specialist for nearly three decades.”
Allan Ritchie· 10 Dec 2025·
track record
geologist with strong focus in New South Wales, worked for previous operator of London Victoria mine
“I was actually I actually worked for the company that was the last operator of the London Victoria mine”
Allan Ritchie· 10 Dec 2025·

Share structure 4

Key takeaway. Regarding Adavale Resources' share structure, management reports that insider ownership stood at over 5% as of December 2025, with four directors and officers collectively holding that stake.

Read the full summary

The company also notes that Glenn Eden maintained a 20% cornerstone holding as of the same date.

What was actually said
insider stake
over 5% owned by four directors and officers
“all of the directors and officers in the company the four of us uh have bought on market acquired over 5% of the company.”
David Ward· 10 Dec 2025·
insider stake
Glenn Eden 20% cornerstone holding
“That's a fantastic uh cornerstone holding 20% of our company.”
David Ward· 10 Dec 2025·
insider stake
Glenn Eden 20%
“A fantastic uh cornerstone holding 20% of our company”
Allan Ritchie· 10 Dec 2025·
Show the other 1 statement
insider stake
over 5% of the company
“all of the directors and officers in the company the four of us uh have bought on market acquired over 5% of the company”
Allan Ritchie· 10 Dec 2025·

Market 1

What was actually said
strategic interest
Big players around Lachlan fold belt earn in opportunities with juniors like Inflection and Anglo Gold
“there's a the the Lachland fold belt is prolific for giants giant miners working with juniors you know earnings like say inflection from Anglo gold inflection we're receiving an earning of up to 140 million”
David Ward· 10 Dec 2025·

Sources 1 interview

Every interview 1

DateChannelInterviewStatements
10 Dec 2025 Crux Investor Adavale Resources (ASX:ADD) - Rapid Value Creation With More Drill Results Coming 35

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

anglogold 1
bhp 1
glenn eden 1
london victoria 1
nickel 1
parkes project 1
uranium 1

Questions people ask

What is Adavale Resources's project and where is it?

Adavale Resources is a explorer mining company, with a project stated to be in New South Wales, Australia. Everything here is drawn from its executives' own interviews.

Which interviews mention Adavale Resources?

We track 1 interview mentioning Adavale Resources, across 1 channel (Crux Investor).

What are investors saying about Adavale Resources?

No independent commentary is on record yet — so far the page carries only the company's own voice.

What do recent interviews with Adavale Resources cover?

The most-discussed topics on record are the deposit, management, economics, timeline — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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