Adavale Resources Ltd. Stock Analysis ADD.AX

Adavale Resources Ltd. engages in the business of mineral exploration for nickel in Tanzania and uranium in South Australia. Its Gold and Copper Project in Parkes consists of five granted exploration licenses that are highly prospective for Au-Cu, located adjacent to the giant Northparkes copper-gold mine. The company holds the Kabanga Jirani Nickel Project, a portfolio of 13 granted licenses along the Karagwe-Ankolean belt in Tanzania. The nine southernmost licenses are proximal to the Kabanga Nickel Deposit. The company holds 100% of all licenses, except two licenses known as the Luhuma-Farm-in are held at 65%, adding 99 km2, bringing the portfolio to 1,315 sq km. The company also holds five granted exploration licenses prospective for its sedimentary uranium potential within the northern part of the Northern outwash from the Flinders Ranges in South Australia and four exploration license applications east of Ceduna on the Eyre Peninsula, increasing its uranium tenement holdings to 4,959 km2.