Adriatic Metals (ADT)

This CEO interview took place on September 9, 2021.

Paul Cronin, the CEO of Adriatic Metals, talks to me about the company’s plans for the future development of their silver-zin project in Bosnia.

More specifically, in this video I asked Paul about anything & everything on Adriatic Metals.

We talked about the recent DFS, where we observed +$1B NPV, 134% post-tax NPV, 8.5 months payback time, 10 year LOM, 15M oz AG production per annum at about $7/oz and needs about $170M to develop the mine. Adriatic Metals is already up over 1300%, though.

So, for me the most important thing to figure out from this interview with Paul Croning, the company’s CEO, was whether there is still so much potential as there was before, given that the biggest catalysts are pretty much already behind ADT. CEO Paul Cronin told me that as the company has developed and the price has risen +1300%, the risk has also dropped heavily and with it likely so has the potential.

I also asked Paul about himself and why he thinks to be the right person to lead Adriatic Metals given that he is a finance guy, and not a mining specialist. That was a great takeaway for me.

Here’s a list of some of the questions that got answered in this video:
– You’re not a mining expert, but rather an ex fund manager, why did you risk it all to move to Bosnia and start a mining company?
– How many shares do you own, how did you buy them and how much did you pay for them?
– What do you think the fair value of Adriatic Metals is today?
– How much does it cost for Adriatic Metals to mine a tonne of ore?
– Where will Adriatic Metals raise money from? Expensive loan? Dilution?
– When will Adriatic Metals start making money? When cash flow?
– How much money will Adriatic Metals make per year through the Vares silver-zinc project?
– How much more money does Adriatic Metals need to put in the ground before they can take something out?
– Adriatic Metals decided not to develop the open-pit Veovaca project. Why? Will it ever go back to it?
– Will Adriatic Metals keep investing in Bosnia or will it venture into another European country?
– Why does Adriatic Metals invest so much in Bosnian public relations?
– What are the next 3 steps for Adriatic Metals?
– What’s going on with the other project, in Serbia?
– What are the main risks for Adriatic Metals?
– Adriatic Metals is up +1300% but could it do 1000% again?
– Are there any major catalysts upcoming for Adriatic Metals?
– If I like ADT, but want to diversify, what other stocks should I look into?

TIMESTAMPS:
00:00 Important notice
02:30 Adriatic Metals company overview
07:00 CEO is not a mining expert, is that okay?
12:40 What’s the CEOs goal with ADT?
17:00 How much did the CEO pay for his shares?
19:30 What’s the value of ADT?
21:30 How much does it cost for ADT to mine?
25:45 How will ADT raise money? Expensive loan?
27:10 When will ADT generate cash flow?
31:00 How much money does ADT make per year through Vares?
38:30 Will Veovaca ever get developed?
42:00 Why invest so much into Bosnia & community?
44:00 The next steps for Adriatic Metals
45:45 The Serbian project
47:00 What’s the problem here?
49:55 Up 20X, is there potential left in the stock?
53:10 Upcoming catalysts for ADT
54:37 Mining ain’t easy!
57:00 More stocks to look into (uranium, copper, PM)
59:30 Closing thoughts

IMPORTANT:
Although I greatly appreciate your presence here, you shouldn’t appreciate mine and you shouldn’t put any importance on what I have to say, what I do nor what I think. I’m an inexperienced 25-year-old who has a high risk appetite and will likely lose a lot of money before he learns how not to. So, please seek professional investment advice and don’t take actions on anything said in this video. Before continuing, you must read and understand the full disclaimer which is displayed at the beginning of this video.