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Marching energy prices boost ADX cash position

Higher energy prices in the June quarter saw ADX Energy increase revenues by more than $900,000 and boost its cash balance to $2.56 million. The $70,000 improvement to the bottom line came despite a $771,000 outlay to pay down its debt and a $227,000 bond payment for its upper Austrian operating licence. The high prices also compensated for an offset a drop in production due to maintenance.