ADY 8.33% 1.3¢ admiralty resources nl.


  1. 1,362 Posts.

    congratulations on your effort to date.Count me in.

    Last week i wrote to Stephen Prior, Company Secretary making similar suggestions re canvassing shareholder assistance. He has failed to reply.

    This afternoon I received feedback from a director( no need to mention name). Indication was that the Board is looking forward to closing the deal to sell Rincon. There was no positive response re suggestion of possible shareholder assistance. I think that it is too late and more to the point it is not wanted.

    I was not happy with reasons offered why RLL had to be sold as in my opinion they were an attempt to justify the Board's decision.

    Was reassured that the Board would provide detailed answers at the AGM as to why RLL was to be sold.

    Unfortunately and with great disappointment and a huge paper loss after 4 years in the stock I cannot see the RLL asset being retained. Therefore the future can only lie with iron ore. Better than receivership.

    Tomorrow we may know if RLL can be saved. Miracles have known to have occured. Charge Resources could back down from the sale much to ADY's disappointment and an unexpected late loan may come from left field from one of the many Phil had anticipated but failed to secure?

    Do Wisco and Shougang really want ADY to go under? Maybe not! They still have an opportunity to save ADY/RLL and secure long term contracts of a wanted resource.

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