Adelong Gold Ltd (ASX:ADG)

Adelong Gold Ltd (ASX:ADG) is a minerals explorer focused on the Adelong Gold Mine in New South Wales (NSW) and a highly prospective Lithium Tenement package in Minas Gerais, Brazil. The company aims to become a mineral producer at its Adelong Goldfield Project and has made significant progress in this direction. Since its acquisition of Adelong, the company has increased JORC compliant resources, completed several drilling and exploration programs, and evaluated project logistics and economics to support a plant redesign and mine reopening. In September 2023, the company announced the execution of a Binding Agreement to acquire a 100% interest in three applications for lithium exploration permits in the world-class ‘Lithium Valley’ in Minas Gerais, Brazil. This strategic move positions Adelong to secure a significant landholding in a globally important, mining-friendly region for hard-rock lithium spodumene deposits. With plans to commence exploration soon, the company is set to tap into the potential of this emerging world-class lithium-producing region.