ADX secures drill-ready prospects in Austria

AFTER a year of negotiations, Europe-focussed ADX Energy has finalised an agreement with the Austrian Mining Authority to become the only exploration license holder in the country’s prolific Molasse Basin and is now ready to drill.

ADX secures drill-ready prospects in Austria ADX secures drill-ready prospects in Austria ADX secures drill-ready prospects in Austria ADX secures drill-ready prospects in Austria ADX secures drill-ready prospects in Austria

‘Transformational’ step for the company

ADX said the licences have been offered on attractive terms including the payment of a €340,000 (A$554,000) bank guarantee to cover federal exploration licence fees and secure an initial work