Mine timeline - from the nov presentation

Vares Mine construction starts Q3 2021 and expected to take about a year. Production expected in 2023.

Although primarily Silver/Zinc there is a bit of copper as well for the copper bulls to think of.

Queens Road Capital, which puchased 20 million convertible debentures from ADT, includes Andrew "Twiggy" Forrest and Jack Cowin as major holders.

All in all, this looks like a good outcome for ADT.

In addition the Prime Minister made a recent visit to meet with management and pledged full support for the project:
https://www.adriaticmetals.com/news/prime-minister-visit-to-eastern-mining/

As Bosnia now has every incentive to see the project to completion in order to improve its reputation, ADT is still undervalued compared to some of the exploration plays located in Tier 1 jursidictions such as Australia.

Disc: I hold ADT for more than a year (0.86 cents)

Ann: Response to ASX Price and Volume Query

As a result of the withdrawal of its nominee Director, investors may be speculating as to SFR's intentions with respect to ADT, including potential corporate transactions. ADT advises that it is not in negotiations or discussions with SFR as to any potential further corporate transactions. ADT is not otherwise able to explain the recent trading in its securities.

IMHO: This probably doesn't change anything. SFR could just be hiding and waiting for the right moment to pounce.

Unfortunate for me. I want to hold this one long term (have held since 2018 when it was 80c)