ADN 29.2% 15.5¢ andromeda metals limited

director's incentive - monetise rover 1

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    ann. 25/1/11

    my interpretation is that MD Chris Drown to receive 2M shares in ADN if Rover 1 is monetised by end of 2012. THis could be quite a reward for CD if they can pull it off.

    This is good news although time frame to achievement is still a way off but to get it done by end of 2012 would mean the wheels would have to start turning way before then.

    Further to this, after speaking with the MD himself, it seems that Peninsular spin off prospectus is being prepared and although a definite timeframe cannot be confirmed it is most likely to be early Q2 2011 although would not rule out late Q1 2011. (expect Q2)

    Also 2, maybe 3 rigs could be operating at Rover this season in addition to Moonta(willamuka), depending on staff availability. Timing for rover drill start will be Mar/Apr.

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