Adavale Resources - ADD (ASX) News & Expert Insights from Stockhead

Adavale Resources is an Australian exploration company focused on gold and copper assets in world-class jurisdictions. In January 2025, the company acquired the Parkes Gold & Copper Project, located in the Tier-1 Lachlan Fold Belt, one of the world’s most prolific gold and copper regions with a resource endowment exceeding 160Moz AuEq.

Adavale’s landholding spans 371.39km² across five granted exploration licences, situated adjacent to the giant Northparkes copper-gold mine and within the Ordovician-aged rocks of the Macquarie Arc. The project includes the historic BHP Gold/Newcrest London-Victoria Gold Mine.

In May 2025, Adavale announced a maiden JORC Mineral Resource Estimate of 115koz Au, including a higher-grade component of 3.14 Mt at 1.06 g/t Au for 107koz. Follow-up RC drilling and assays completed in September 2025 reinforced the company’s conviction that the London Victoria Gold Mine has strong potential to become a producing asset.

KEY PEOPLE

Allan Ritchie is a seasoned executive with over 30 years of experience spanning corporate finance, energy, and resources, with leadership roles across both private and publicly listed companies on the ASX and HKEX. He has served as non-executive director of Hydrocarbon Dynamics (ASX:HCD) and as executive director and Deputy CEO of Hong Kong–listed EPI Holdings (0689.HKEX).

Ritchie’s career also includes senior investment banking roles with Westpac, ANZ, HSBC, and BNP Paribas in Australia, London, New York, and Asia Pacific, where he specialised in structuring transactions in the energy and resources sector and was repeatedly recognised in BRW’s annual ranking of top bankers. He holds a Bachelor of Business from the University of Technology Sydney and a Postgraduate Diploma in Applied Finance from FINSIA.

Maurice (Nic) Matich is a mechanical engineer and finance professional with 17 years’ experience in the resources sector, spanning engineering, risk consulting, and insurance for tier-1 mining companies across lithium, iron ore, mineral sands, gold, and kaolin.

Matich previously served as managing director of Pinnacle Minerals (ASX:PIM) and executive director of Heavy Minerals (ASX:HVY), where he delivered a maiden resource and $253 million NPV8 scoping study for the Port Gregory Project. Matich holds a Bachelor of Engineering (Hons), a Bachelor of Science (Physics/IT), a Graduate Diploma in Applied Finance, and is a graduate of the AICD.

David Ward is a geologist and mining executive with over 25 years of experience spanning early-stage exploration, project development, and both open-pit and underground mining.

As chief geologist of Bacchus Resources for eight years, Ward defined more than 950Koz of gold resources in the NT and advanced exploration assets in the NT, QLD, and NSW that were later incorporated into projects of multiple ASX-listed companies. He has also held key technical roles with Newcrest Mining at the Cadia Gold Mine and with Clancy Exploration, leading porphyry and epithermal exploration in the Lachlan Fold Belt, NSW.

Leonard Math is a chartered accountant with extensive experience managing financial operations for ASX listed resources companies. He graduated with a Bachelor of Business (double major in accounting and information systems) from Edith Cowan University in 2003 and became a chartered accountant in September, 2008.

Math has held multiple director, CFO and company secretary roles in the resources sector, most recently with Summit Minerals (ASX:SUM).